Karachi: Jahangir Siddiqui, a prominent investor, has increased his stake in Jahangir Siddiqui & Co. Ltd. by acquiring 498,820 Class 'A' Preference Shares, as per the latest filings with the Pakistan Stock Exchange (PSX). This transaction brings his total holdings in the company to 139.46 million shares as of August 13, 2024.
This acquisition, documented under the rules of the PSX and the Securities Act of 2015, was executed through the ready market with shares purchased at a rate of Rs 7.75 each. According to information available from the Pakistan Stock Exchange (PSX), the shares were converted into electronic form and registered in the Central Depository Company (CDC).
This move by Mr. Siddiqui marks a significant increase in his investment in the company, consolidating further control and stake in the firm's future. This financial maneuver was carried out in compliance with clause 5.6.4 of the Rule Book of the Pakistan Stock Exchange Limited, ensuring transparency and adherence to regulatory standards.