Karachi: In a notable transaction on the Pakistan Stock Exchange, Jahangir Siddiqui has increased his stake in Jahangir Siddiqui and Co. Ltd by acquiring an additional 8,000 Class 'A' Preference Shares. As of October 4, 2024, this purchase has elevated his cumulative shareholding to 140.29 million shares, representing a 76.58% stake in the company.

According to information available from the Pakistan Stock Exchange (PSX), the shares were acquired at a price of Rs 7.45 per share, and the transaction was executed through the ready market platform. The shares, held electronically in CDC form, underscore a continuing strategy by Siddiqui to consolidate his control over the financial services firm.

This strategic acquisition further strengthens Siddiqui's position in the company, showcasing his confidence in its future prospects. Such transactions are significant as they reflect changes in the control and ownership structure that can influence the strategic direction of a company. The disclosure, made under clause 5.6.4 of the PSX Rule Book, underscores the transparency in transactions that are pivotal to market dynamics.

Investors and market watchers closely monitor such disclosures as they provide insights into the intentions and financial movements of major shareholders within publicly traded companies. This particular acquisition by Siddiqui is no exception, highlighting his active role in shaping the company's future.