JS Bank acquires 14.92% stake in TRG Pakistan, raises holding to 29.33%

JS Bank Limited has acquired 81.36 million shares, or 14.92%, of TRG Pakistan Limited through enforcement of security, increasing its total shareholding in the company to 29.33%, according to a disclosure submitted to the Pakistan Stock Exchange (PSX) on Friday.

Jahangir Siddiqui & Co. Ltd. informed the exchange that it had viewed a public disclosure by its subsidiary, JS Bank Limited, regarding the transaction completed on May 21, 2026.

According to the notice, JS Bank acquired 81,358,289 shares of TRG Pakistan at a price of ₨62.92 per share through enforcement of security. The bank stated that the transaction falls under the exempted transactions category under Section 109(1)(c) of the Securities Act, 2015 and does not trigger takeover provisions under Part IX of the Act.

Prior to the acquisition, JS Bank and persons acting in concert held 78,622,164 shares, representing 14.41% of TRG Pakistan. Following the recent transaction, their combined holding increased to 159,980,453 shares, equivalent to 29.33% of the company's total issued voting shares.

JS Bank stated that the shares were acquired as part of an enforcement of security arrangement and reaffirmed its commitment to complying with all applicable regulatory and disclosure requirements.

The disclosure also listed persons acting in concert and their shareholdings in TRG Pakistan at the date of filing. These included JS Bank Limited with 105.94 million shares, Jahangir Siddiqui & Co. Ltd. with 26.95 million shares, JS Infocom Limited with 20.08 million shares, Energy Infrastructure Holding (Private) Limited with 3.5 million shares, JS Bank Limited Gratuity Fund with 3.5 million shares, JS Global Capital Limited with 500 shares, Suleman Lalani with 10,001 shares and Asad Nasir.

The acquisition makes JS Bank and its associated entities one of the largest shareholders in TRG Pakistan, with a combined stake of 29.33%.

JS Bank Limited was incorporated on March 15, 2006 and has an authorised and issued capital comprising 3.85 billion ordinary shares and 150 million preference shares. The bank's sponsor and controlling shareholder is Jahangir Siddiqui.