Karachi: Rafhan Maize Products Company Limited disclosed significant transactions involving its shares, as reported under the Pakistan Stock Exchange (PSX) Regulation 5.6.4. The transactions, dated July 2, 2026, were executed on June 23, 2026, and involved non-executive directors, their spouses, and substantial shareholders.
According to information available from the Pakistan Stock Exchange (PSX), several non-executive directors and their spouses have divested their holdings in the company. Zulfikar Mannoo, a non-executive director, sold 238,263 shares, and Wisal A. Mannoo, also a non-executive director, divested 223,478 shares. M. Adil Mannoo, another non-executive director, sold 156,553 shares, while his spouse, Humaira Monnoo, sold 17,500 shares. In addition, Sarwat Zulfikar, spouse of Zulfikar Mannoo, sold 9,370 shares. Each transaction was conducted at a rate of 9,800.00 per share, leaving most of these individuals with no cumulative shares in the company.
In a notable transaction, Ingredion Incorporated, formerly known as Corn Products International and a substantial shareholder, sold 4.71 million shares, decreasing its cumulative holdings to approximately 1.85 million shares, which equates to a 20.00% stake in the company. This represents a very large move in their shareholding position.
Conversely, D. G. Khan Cement Company Limited, another substantial shareholder, acquired 2.87 million shares, establishing a 31.07% cumulative holding in Rafhan Maize. Similarly, Nishat Power Limited purchased 1.33 million shares, resulting in a 14.36% cumulative stake. Both acquisitions were executed at the same rate of 9,800.00 per share.
These transactions highlight strategic maneuvers by stakeholders within Rafhan Maize Products Company Limited, reflecting significant shifts in shareholdings among directors and substantial shareholders. The Pakistani stock market, classified under the designated market category, witnessed these notable changes, underscoring the dynamic nature of corporate governance and investment strategies within the region.