Karachi: In a significant development within the market category of chemical manufacturing, Nimir Resins Limited has disclosed the transfer of a substantial portion of its shares to M/s Rudolf Pakistan (Pvt.) Limited. The disclosure, made on March 27, 2025, adheres to the regulations set forth by the Pakistan Stock Exchange (PSX) and relevant financial legislation.
According to the information released, the transfer involves a total of 30 million shares, executed over two days, with an average price of 25.00 per share. The majority of the transaction took place on March 25, 2025, when 23.10 million shares were transferred, representing a 16.35% stake in the company. The remaining 6.90 million shares were transferred on March 26, 2025, accounting for an additional 4.88% stake. All transfers were conducted electronically through the Central Depository Company (CDC).
The shareholders involved in the transfer include Zafar Mahmood, Khalid Mumtaz Qazi, Imran Afzal, Umar Iqbal, and Aamir Jamil. These individuals collectively transferred their holdings to Rudolf Pakistan, relinquishing a combined total of 30 million shares. Zafar Mahmood and Khalid Mumtaz Qazi were the largest contributors, with 11.40 million and 6.60 million shares transferred, respectively.
According to information available from the Pakistan Stock Exchange (PSX), this acquisition marks a strategic move by Rudolf Pakistan to consolidate its position in the chemical manufacturing industry. The transaction aligns with the provisions outlined in the Rule Book of Pakistan Stock Exchange Limited, the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Regulations, 2017.
This transfer of shares follows a previous notification by Nimir Resins Limited dated December 31, 2024, indicating a continuation of strategic changes within the company's ownership structure. The acquisition by Rudolf Pakistan, a private entity, is expected to influence the operational dynamics of Nimir Resins Limited, although specific strategic intentions have not been disclosed.