Karachi: The International Industries Limited (IIL) has announced a strategic move to sell its entire 17 percent holding in Chinoy Engineering & Construction (Pvt) Limited (CECL). This decision, pending shareholder approval, was made during a board meeting on August 20, 2026. The disposal involves 4,845,000 ordinary shares priced at Rs. 10 each, with a total consideration of PKR 350.00 million.

The proposal for this transaction will be presented for approval at the company's 78th annual general meeting, scheduled for October 7, 2026. According to information available from the Pakistan Stock Exchange (PSX), this disposal is contingent upon receiving all necessary regulatory approvals. The formal notice for the upcoming annual meeting will be issued in due course.

This move aligns with the company's ongoing evaluation of its investment portfolio and strategic initiatives aimed at optimizing shareholder value. The transaction price has been set at PKR 72.24 per share, reflecting current market conditions and valuations.