SECP approves Pace Pakistan’s issuance of 140 million discounted shares

Pace (Pakistan) Limited has received approval from the Securities and Exchange Commission of Pakistan (SECP) to issue 140.16 million ordinary shares at a discounted price of ₨9 per share, according to a notice submitted to the Pakistan Stock Exchange (PSX) on Friday.

The company said the share issuance would amount to approximately ₨1.26 billion.

According to the disclosure, the approval was granted by the SECP on the basis of special resolutions passed by shareholders during the company’s extraordinary general meeting held on September 24, 2025.

Pace Pakistan stated that the shares would be issued through a mechanism other than a rights offer to certain persons and undertakings against non-cash consideration.

The company said the issuance would be made against the conversion of long-outstanding term finance certificates (TFCs), financial liabilities and property assets under Section 83(1)(b) of the Companies Act, 2017 and the Companies (Further Issue of Shares) Regulations, 2020.

The disclosure added that the issued shares would remain subject to a six-month lock-in period in accordance with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.