Pace Pakistan moves to convert over Rs1bn debt into equity

MG News | August 29, 2025 at 09:26 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

August 29, 2025 (MLN): Pace (Pakistan) Limited (PSX: PACE) is planning to convert over Rs1.08 billion in outstanding Term Finance Certificates (TFCs) into equity, according to a material notice submitted to the Pakistan Stock Exchange (PSX).

The company’s Board of Directors approved the conversion of liabilities, comprising principal and markup, into 120.27 million ordinary shares at Rs9 per share, representing a 10% discount to par value.

The transaction will be executed “otherwise than by right” and “against a consideration other than cash,” pending regulatory and shareholder approvals.

To accommodate the new shares and future growth, Pace also resolved to increase its authorized capital threefold, from Rs6 billion to Rs18 billion, by amending its Memorandum and Articles of Association.

Company Secretary Sajjad Ahmad confirmed that the CEO or any director has been authorized to finalize negotiations with TFC holders and complete all legal formalities, including convening an extraordinary general meeting.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	178,198.07 119.42M	0.04% 74.50
ALLSHR	107,833.26 296.20M	-0.08% -87.27
KSE30	53,269.14 37.27M	0.20% 105.54
KMI30	251,262.45 58.00M	0.21% 516.31
KMIALLSHR	69,174.61 186.13M	-0.13% -92.78
BKTi	50,605.68 9.73M	0.15% 75.28
OGTi	35,229.36 2.73M	-0.38% -134.25

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	62,965.00	64,350.00 62,690.00	-1420.00 -2.21%
BRENT CRUDE	85.28	85.50 83.71	1.05 1.25%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.15 -0.14%
ROTTERDAM COAL MONTHLY	118.60	0.00 0.00	-1.20 -1.00%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	79.51	79.58 77.93	1.23 1.57%
SUGAR #11 WORLD	14.52	14.54 14.39	0.08 0.55%