Karachi: A notable transaction involving shares of Ibrahim Fibres Limited was executed by Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of the company, on August 7, 2024. The transaction, involving the purchase of 35,615 shares at a rate of Rs. 350 per share through the Central Depository Company (CDC) in the ready market, is poised for review in the forthcoming board meeting.

This development falls under the regulatory purview of clause No. 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations. The board is expected to address this transaction along with any potential non-compliance issues for thorough consideration. According to information available from the Pakistan Stock Exchange (PSX), the transaction signifies a pivotal financial movement within the corporate governance framework of Ibrahim Fibres Limited.

Furthermore, the company has confirmed that the holding period for these shares exceeds six months. In compliance with Section 105 of the Securities Act, 2015, if the holding period had been under six months, the equivalent profit from this transaction would be deposited with the Securities and Exchange Commission of Pakistan (SECP), with proper notification to PSX. This ensures adherence to the stringent regulatory requirements designed to uphold transparency and investor confidence in the market dynamics of listed companies.