Pace (Pakistan) Limited Announces Approval for Issuance of 140 Million Shares

Lahore, May 8, 2026 — Pace (Pakistan) Limited has informed the Pakistan Stock Exchange (PSX) that it has received approval from the Securities and Exchange Commission of Pakistan (SECP) to issue 140,158,326 ordinary shares at a discounted price of Rs. 9 per share.

The share issuance, valued at approximately Rs. 1.26 billion, follows special resolutions approved by shareholders during the company’s Extraordinary General Meeting held on September 24, 2025. The approval was granted under the provisions of the Securities Act, 2015 and the relevant regulations governing listed companies.

According to the company’s disclosure, the shares will be issued through a mechanism other than a traditional rights offering. The issuance is intended to settle certain outstanding financial obligations, including the conversion of long-term financing certificates (TFCs), other financial liabilities, and consideration against property transactions in accordance with applicable corporate regulations.

The company further stated that the newly issued shares will be subject to a six-month lock-in period. This restriction is designed to ensure compliance with regulations related to substantial acquisition of voting shares and takeovers.

The development represents a significant step in Pace Pakistan’s financial restructuring efforts, allowing the company to strengthen its balance sheet while addressing outstanding obligations through equity conversion.

The company has requested the Pakistan Stock Exchange to disseminate the information to market participants in accordance with regulatory requirements.