Karachi: Arif Habib Limited, a prominent player in Pakistan's financial sector, disclosed on September 18, 2025, that its Chairman and Director, Mr. Zafar Alam, executed a series of transactions involving the sale of the company's shares. These transactions were carried out under clause 5.6.4 of the Pakistan Stock Exchange (PSX) Regulations, emphasizing transparency and regulatory compliance.
The transactions began on February 13, 2025, when Mr. Alam sold 1,000 shares at a rate of 65.75 Pakistani Rupees per share, resulting in a cumulative holding of 43,500 shares, representing 0.067% of the company's total shares. Over the subsequent months, Mr. Alam continued to offload shares, with the percentage of shares held decreasing progressively.
On February 19, 2025, Mr. Alam sold an additional 1,500 shares at 62.52 Pakistani Rupees each, reducing his cumulative holding to 42,000 shares, a minor move of 0.064%. The sales continued on February 20, 2025, with 2,748 shares sold at 62.65 Pakistani Rupees per share, further decreasing his cumulative share count to 39,252, marking another minor move at 0.060%.
The transactions persisted through March, with notable sales on March 4, 5, and 6, 2025, at varying rates, leading to a cumulative holding of 34,000 shares by March 6, 2025. This marked a decline to 0.052% of the company's shares, indicating a moderate move.
According to information available from the Pakistan Stock Exchange (PSX), the transactions were executed in compliance with regulatory requirements. On March 27, 2025, Mr. Alam sold a significant volume of 8,000 shares at 64.55 Pakistani Rupees each, reducing his shares to 23,500, which was classified as a big move at 0.036%.
The most substantial transaction occurred on September 17, 2025, when Mr. Alam offloaded 10,100 shares at a rate of 105.95 Pakistani Rupees per share, leaving him with a cumulative holding of 10,000 shares, a significant move of 0.015%.
Arif Habib Limited confirmed that these transactions will be presented at the subsequent board meeting, ensuring compliance with clause 5.6.4 (d) of the PSX Regulations. The company also noted that the holding period for these transactions exceeds six months. If any transaction is found to be within six months, a cheque equivalent to the profit will be deposited with the Securities and Exchange Commission of Pakistan (SECP) as stipulated by Section 105 of the Securities Act, 2015.
The disclosure underscores the importance of transparency in corporate governance and adherence to regulatory standards in the Pakistani financial market.