Karachi: Power Cement Limited saw a significant transfer of shares as part of a court-sanctioned Scheme of Arrangement involving Arif Habib Corporation Limited and Arif Habib Limited, according to a disclosure made at the Pakistan Stock Exchange. The High Court of Sindh at Karachi approved the merger on October 21, 2024, facilitating the transfer of both ordinary and preference shares from Arif Habib Limited to Arif Habib Corporation Limited.

According to information available from the Pakistan Stock Exchange (PSX), the transfer includes 53,536,557 ordinary shares and 4,405,000 preference shares of Power Cement Limited. The transaction was completed on October 24, 2024. Following this transfer, Arif Habib Corporation Limited now holds a total of 310,954,117 ordinary shares and 23,171,114 preference shares in Power Cement Limited, accounting for 25.31% of the company's shareholding.

Despite the transfer, the overall shareholding of the Arif Habib Group in Power Cement Limited remains unchanged. The group, along with other entities, continues to control more than fifty percent of the shareholding in the company, either directly or indirectly.