ZTP assumes control of First IBL Modaraba after acquiring 36.67% stake

ZTP (Private) Limited has assumed management control of First IBL Modaraba and its management company after acquiring a 36.67% stake, according to notices submitted to the Pakistan Stock Exchange (PSX) on Wednesday.

First IBL Modaraba informed the PSX that ZTP (Private) Limited had effectively assumed control of the Modaraba and its management company, IBL Modaraba Management (Private) Limited.

The company said the development followed its earlier communication dated February 16, 2026, regarding the change in management control.

In a separate disclosure under Section 110 of the Securities Act, 2015, ZTP (Private) Limited said it had acquired 7,952,584 Modaraba certificates of First IBL Modaraba, representing approximately 36.67% of its paid-up certificate capital.

Another disclosure showed that IBMU Builders Limited acquired 3,070,000 Modaraba certificates, equal to approximately 14.16% of First IBL Modaraba’s paid-up certificate capital.

The disclosures said the acquisitions resulted in substantial shareholding in the Modaraba and were made in compliance with requirements under Section 110 of the Securities Act, 2015.