Lahore: Naeem Yousaf has acquired a substantial stake in Kohinoor Spinning Mills Limited, taking his total shareholding to 21.19% of the company. The acquisition was formalized on May 20, 2026, as per the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2017 and the Securities Act, 2015.
Mr. Yousaf was allotted 117,142,857 ordinary shares at a rate of Rs. 5 per share, which includes a premium of Rs. 2 per share. This allotment, carried out under clause (b) of sub-section (1) of Section 83 of the Companies Act, 2017, has significantly increased his previous holding of 3,000 ordinary shares. The transaction was made possible by converting a loan listed in the books of Kohinoor Spinning Mills Limited into equity, a move approved by the Securities and Exchange Commission of Pakistan (SECP).
According to information available from the Pakistan Stock Exchange (PSX), this acquisition represents a very large or significant move in the company’s voting shares. The total shareholding of Mr. Yousaf now stands at 117,145,857 ordinary shares, indicating a substantial change in the ownership dynamics of the textile manufacturer.
The details of the acquisition were disclosed as required by the regulations, ensuring transparency and compliance with the Securities Act, 2015. The acquisition did not involve any payment beyond the conversion of the loan into shares, aligning with the special resolution and SECP’s permissions.
The textile sector, a designated market category, is likely to observe the implications of this acquisition closely, considering the substantial increase in Mr. Yousaf’s influence within Kohinoor Spinning Mills Limited.