PACE gets SECP nod to issue 140m shares
MG News | May 08, 2026 at 11:17 AM GMT+05:00
May 08, 2026 (MLN): Pace (Pakistan) Limited (PSX: PACE)
has received approval from the Securities and Exchange Commission of Pakistan
(SECP) to issue 140,158,326 ordinary shares at a discounted price of Rs9 per
share, amounting to a total value of Rs1.26 billion.
The approval was granted on the basis of Special Resolutions
passed by shareholders at an Extraordinary General Meeting held on September
24, 2025, according to the company’s filing on PSX.
The shares will be issued through a route other than a
rights offer, to certain persons and undertakings against non-cash consideration
including the conversion of long-outstanding Term Finance Certificates (TFCs),
financial liabilities, and a property transaction.
The newly issued shares will be subject to a six-month
lock-in period and must comply with the Listed Companies (Substantial
Acquisition of Voting Shares and Takeovers) Regulations, 2017.
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