Karachi: In a significant financial move, Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, has executed a major purchase of 311 shares on September 4, 2024. Each share was bought at a rate of 350.00, and the transaction was facilitated through the Central Depository Company (CDC) in the Ready Market.

According to information available from the Pakistan Stock Exchange (PSX), this transaction is part of a regulatory disclosure under clause 5.6.4 of the PSX Regulations, which mandates the reporting of any substantial shareholder's transactions. The details of this transaction will be reviewed in the upcoming board meeting of Ibrahim Fibres Limited to ensure compliance with all pertinent regulations.

The company also confirmed that the holding period for these transactions exceeds six months. In compliance with Section 105 of the Securities Act, 2015, if the holding period were under six months, the profits from these transactions would require the deposit of a cheque equivalent to the profit amount with the Securities and Exchange Commission of Pakistan (SECP), with notification to the PSX.