Karachi: Jahangir Siddiqui and Co. Ltd. announced a significant increase in the holdings of its namesake founder, Mr. Jahangir Siddiqui, following the acquisition of an additional 526,700 Class 'A' Preference Shares. This transaction, executed on September 18, 2024, elevates Mr. Siddiqui's total shareholding to 140.28 million shares.

The shares, purchased at a rate of Rs 7.42 each, reflect a strategic enhancement in Mr. Siddiqui's investment in the company, underscoring his continued commitment to its growth and stability. The transaction was conducted through the ready market, and the shares are held electronically in Central Depository Company (CDC) format.

According to information available from the Pakistan Stock Exchange (PSX), this move is in compliance with the disclosure requirements stipulated under clause 5.6.4 of the PSX Rule Book and the Securities Act of 2015. The disclosure ensures transparency and adheres to the regulatory framework, providing stakeholders with timely information about significant changes in shareholding patterns.

This acquisition not only solidifies Mr. Siddiqui’s position but also potentially influences the future strategic direction of Jahangir Siddiqui and Co. Ltd. The company has followed all procedural necessities, including the filing of the appropriate disclosure forms with relevant authorities.