Pace (Pakistan) Limited (PSX: PACE) has informed the Pakistan Stock Exchange that the Securities and Exchange Commission of Pakistan (SECP) has approved the company’s plan to issue 140 million ordinary shares at a discounted price of Rs. 9 per share.
According to the company’s disclosure dated May 8, 2026, the share issuance amounts to approximately Rs. 1.261 billion.
The approval was granted on the basis of special resolutions passed by shareholders during the Extraordinary General Meeting held on September 24, 2025. The company said the shares will be issued through a mechanism other than a rights offering to certain persons or entities against non-cash consideration.
According to the filing, the issuance is linked to the conversion of long outstanding Temporary Finance Certificates (TFCs), financial liabilities, and property-related arrangements under Section 83(1)(b) of the Companies Act, 2017 read with the Companies (Further Issue of Shares) Regulations, 2020.
The company further stated that the issued shares will remain subject to a six-month lock-in period in compliance with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Pace Pakistan has remained engaged in restructuring and settlement of financial liabilities in recent years as part of broader efforts to improve its balance sheet and stabilize operations.
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