JD Taurus announces plan to acquire 35.06% stake, control of Saudi Pak Consultancy

JD Taurus (Private) Limited has issued a public announcement of intention to acquire 35.06% of the issued paid-up capital and control of Saudi Pak Consultancy Company Limited, according to a notice submitted to the Pakistan Stock Exchange on Tuesday.

Saudi Pak Consultancy Company Limited, formerly known as Saudi Pak Leasing Company Limited, informed the PSX through a notice dated June 22, 2026.

According to the public announcement of intention, JD Taurus plans to acquire 15,835,403 shares, or 35.06%, through agreements.

The acquirer will also make a public offer for 14,662,549 shares, representing 32.47% of the company.

The proposed acquisition remains subject to regulatory approvals, including clearance of fit and proper criteria from the Securities and Exchange Commission of Pakistan. The announcement may be withdrawn if required approvals are not granted by the concerned regulatory authorities.

Saudi Pak Industrial & Agricultural Investment Company Limited is listed as the major shareholder of Saudi Pak Consultancy Company Limited with a 35.06% holding.

The target company has 45,160,500 issued shares. Its shares were last quoted at Rs0.90 on March 22, 2022. Trading in the company’s shares has remained suspended at the PSX since that date.

JD Taurus (Private) Limited, registered in Karachi, was incorporated on October 28, 2025, with authorised share capital of Rs100,000 and paid-up share capital of Rs100,000. 

Its ultimate controlling shareholders are Mamoon Ur Rashid Qureishi, Muhammad Yaqoob and Zahid Hussain.

Mamoon Ur Rashid Qureishi is listed as chief executive and director of JD Taurus, while Muhammad Yaqoob and Zahid Hussain are listed as directors.

Mamoon Ur Rashid Qureishi and Muhammad Yaqoob each hold 40% shareholding in JD Taurus, while Zahid Hussain holds 20%.

Intermarket Securities Limited has been appointed as manager to the offer.

The acquirer describes itself as a consultancy company engaged in management consulting, trade advisory, transaction structuring, investment banking solutions, equity and debt advisory, financial and business consultancy, and financial and investment planning services.

The announcement said the management team of the acquirer has combined professional experience of more than 50 years, including experience in executing and completing multi-million-dollar transactions across different sectors.

The acquirer also disclosed associated concerns operating in Australia, Dubai and the United Kingdom.

According to the document, the acquirer and persons acting in concert do not currently own, control or direct voting rights in Saudi Pak Consultancy Company Limited.

They also have no irrevocable commitments to accept the takeover offer, and no options, warrants or convertible securities linked to the target company, according to the announcement.

Saudi Pak Consultancy Company Limited’s board includes Syed Najmul Hasnain Kazmi as chairman and independent director, Niaz Ahmed Khan as chief executive officer and executive director, Sheikh Aftab Ahmed as independent director, Parveen Akhtar Malik as independent director, Lubna Farooq as non-executive director, Muhammad Naeem Khan as independent director and Nayyar Alam Ilyas as executive director.

The company reported gross income of Rs146 million in 2025, down from Rs236 million in 2024.

Its profit before tax stood at Rs54 million in 2025, compared with Rs129 million a year earlier.

Profit after tax was Rs44 million in 2025, compared with Rs107 million in 2024.

The company’s gross lease receivables stood at Rs1.261 billion in 2025, while net investment in leases was Rs312 million.

Total assets were Rs686 million in 2025, compared with Rs735 million in 2024.

The company reported negative net worth of Rs399 million in 2025, improving from negative Rs460 million in 2024.

Long-term liabilities including current portion stood at Rs345 million in 2025, compared with Rs481 million in 2024.

Earnings per share stood at Rs0.98 in 2025, compared with Rs2.37 in 2024.

The company’s breakup value remained negative at Rs8.84 per share in 2025, compared with negative Rs10.18 per share in 2024.

No cash dividend on ordinary or preference shares was reported for the six-year period covered in the announcement.

The transaction will proceed only after completion of applicable regulatory requirements and approvals.