Karachi: Ibrahim Fibres Limited has announced a substantial transaction by a major shareholder, according to a disclosure mandated under PSX Regulation 5.6.4. This transaction, involving the purchase of company shares, was executed by Ibrahim Holdings (Pvt.) Ltd., classified as a substantial shareholder and sponsor of the company.
On September 23, 2024, Ibrahim Holdings acquired 69 shares of Ibrahim Fibres at a rate of PKR 350 per share. Following this transaction, the cumulative shareholding of Ibrahim Holdings in Ibrahim Fibres stands at 284.95 million shares, representing a commanding 91.77% of the company’s total shares.
According to information available from the Pakistan Stock Exchange (PSX), the shares were traded under the ready market category. This acquisition not only strengthens Ibrahim Holdings' position but also reflects a significant endorsement of Ibrahim Fibres’ value and potential by its principal backers.
The details of the transaction underline the ongoing consolidation of control by core investors and are essential for market watchers monitoring corporate governance and investor behavior in significant listed entities.