LAHORE: W.S. Engineering (Private) Limited has disclosed a substantial acquisition of shares in Pace (Pakistan) Limited, marking a notable development in the corporate landscape. According to a notification under Section 110 of the Securities Act, 2015, the acquisition was finalized on June 12, 2026, with an official announcement made on July 9, 2026.

W.S. Engineering has acquired a significant stake, totaling 46,687,439 shares, representing 10.37% of the total issued voting shares of Pace (Pakistan) Limited. Previously, the company held no shares in Pace, making this a pivotal shift in its investment strategy. The shares were purchased at a rate of Rs. 9 per share, as outlined in the disclosure.

According to information available from the Pakistan Stock Exchange (PSX), the transaction signifies a strategic move by W.S. Engineering, which was incorporated on May 11, 2018, under the jurisdiction of the CRO- SECP in Lahore, Pakistan. The company maintains its registered office at Office No. 5, 3rd Floor Pace Tower, 27-H, Gulberg-II, Lahore. The acquisition was facilitated by the company’s authorized and paid-up share capital of 40,000 shares, each valued at Rs. 100.

The leadership of W.S. Engineering is under the direction of Mr. Waseem Asghar, who serves as CEO and Director, alongside Mrs. Saima Waseem, a Director. Both are also listed as sponsors with the same residential address in DHA Lahore Cantt.

This acquisition may have implications for the governance of Pace (Pakistan) Limited, as W.S. Engineering now holds a substantial shareholding position, potentially influencing future corporate decisions. The disclosure did not mention representation on the board of directors of the target company, Pace (Pakistan) Limited.