Pace expands capital base by 140m shares
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Pace (Pakistan) Limited increased its paid-up capital from 309,862,893 shares to 450,021,219 shares after CDC allotted and credited 140,158,326 shares to certain persons/entities against non-cash consideration comprising conversion of long-outstanding TFCs, financial liabilities and a property.
The shares were issued at Rs 9.00 per share, representing a 10% discount to the par value of Rs10.00 per share.
The shares were credited into the respective CDS accounts at the end of June 12, 2026, following CDC confirmation.
The company’s paid-up capital now stands at 450,021,219 shares. The closing market price of the company’s shares on June 12, 2026, the date of credit into the respective CDC sub-accounts, was Rs 11.53 per share.
The issuance is subject to a six-month lock-in period for sale and compliance with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations.
The aforementioned information was disseminated through a notification to Exchange.
Reference Link:- https://mettisglobal.news/Pace-expands-capital-base-by-140m-shares-61124
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
