KARACHI: In a recent development at First Paramount Modaraba, a substantial certificate holder, Asif Nathani, executed a sale of 100,000 shares over a two-day period, reducing his cumulative stake in the Modaraba. The transactions were reported under the Pakistan Stock Exchange (PSX) regulations concerning disclosures by substantial shareholders.

According to the official disclosure document dated July 3, 2026, the transactions were carried out on July 1 and July 2, 2026. On the first day, Asif Nathani sold 50,000 shares at an average price of 14.07 per share, bringing his cumulative shareholding down to 1,550,000 shares, representing 11.24% of the total shares. The following day, another tranche of 50,000 shares was sold at an average price of 15.48 per share, further reducing his stake to 1,500,000 shares, which now accounts for 10.88% of the Modaraba's total shares.

According to information available from the Pakistan Stock Exchange (PSX), these transactions are part of the regular updates required under the PSX regulations. The disclosure ensures transparency in the dealings of major stakeholders within the market, highlighting the movement of shares and the corresponding impact on shareholding percentages.

The management of First Paramount Modaraba affirmed that these transactions will be reviewed in the forthcoming board meeting. The board will examine any potential non-compliance with the PSX regulations as stipulated under clause No. 5.6.1.(d). The outcome of this review will be communicated to the exchange, ensuring adherence to regulatory requirements.