Faisalabad: Top executives at Interloop Limited, including Tariq Rashid Malik, have recently divested a significant portion of their holdings in the company. According to a disclosure filed with the Pakistan Stock Exchange, the transactions took place in early October 2024, with Malik and Jamshaid Iqbal, another executive, selling thousands of shares.

On October 8, 2024, Jamshaid Iqbal sold 18,338 shares at a rate of 77.50 PKR per share, while on October 10, Tariq Rashid Malik sold 15,981 shares at 77.00 PKR per share. Additionally, on October 9, Malik executed another sale of 19,019 shares at 78.00 PKR per share. According to information available from the Pakistan Stock Exchange (PSX), these transactions collectively moved 1.29% of the company’s shares, marking a notable change in the ownership structure.

These transactions are part of standard practices where executives and directors are required to disclose sales and purchases of company shares to ensure transparency and maintain investor trust. The reported sales occurred during a permissible trading window, adhering to regulatory requirements outlined by the PSX for executive trades.

Interloop Limited, known for its significant market presence in the textile industry, has seen fluctuating share prices, which these sales might impact. The company has ensured that all procedures were followed in line with the Securities and Exchange Commission of Pakistan’s guidelines.