Karachi: On August 1, 2024, Ibrahim Holdings (Pvt.) Ltd., a substantial shareholder and sponsor of Ibrahim Fibres Limited, conducted a significant transaction involving the purchase of 3,019 shares at a rate of PKR 350.00 per share. This transaction was carried out in the ready market and registered through the Central Depository Company (CDC).
According to information available from the Pakistan Stock Exchange (PSX), this acquisition aligns with the regulatory framework stipulated under PSX Regulations, particularly clause No. 5.6.4. The shares acquired will be discussed at the forthcoming board meeting of Ibrahim Fibres Limited, where any potential non-compliance issues will be addressed.
Additionally, the company has confirmed that the holding period for these shares extends beyond six months. Should the holding period be less than six months, the regulations require that the profit from such transactions be deposited with the Securities and Exchange Commission of Pakistan (SECP), as mandated by Section 105 of the Securities Act, 2015. This ensures transparency and adherence to the legal frameworks designed to govern substantial shareholders' activities in the market.
This strategic transaction not only underscores the ongoing commitments of Ibrahim Holdings towards its associated companies but also highlights the robust regulatory practices enforced within the Pakistani capital market to maintain fairness and transparency.