Service Industries Limited (SIL) has announced the sale of 8,683,920 shares of its subsidiary, Service Global Footwear Limited (SGFL), through an off-market transaction. The decision, made during the company’s board meeting on July 17, 2025, was taken to comply with the requirements of Clause 5.4.1 of the PSX Regulations.
Clause 5.4.1 of the PSX regulations pertains to ensuring transparency and compliance with the ownership structure of listed companies, requiring that any major transactions, including the sale of significant shares in subsidiaries, be disclosed. The sale was conducted off-market, which generally means it was not done through the normal stock exchange trading system but in a private arrangement.
This move was necessary for SIL to align its corporate structure with the regulations set by the Pakistan Stock Exchange (PSX). The company has not disclosed specific details about the buyer(s) of the shares, but the transaction was aimed at ensuring that SIL adhered to the regulatory framework governing share ownership and transactions within listed companies.
This development comes as part of SIL’s ongoing commitment to maintaining compliance with stock exchange rules and keeping investors informed of any significant changes in its structure and investments. The details of this transaction have been communicated to the PSX and the Securities and Exchange Commission of Pakistan (SECP), in line with regulatory requirements.
