International Industries Limited (IIL) has proposed the disposal of its entire 17% investment in Chinoy Engineering & Construction (Pvt) Limited (CECL) for PKR 350 million, subject to shareholder and regulatory approvals.
International Industries Limited has informed the Pakistan Stock Exchange (PSX) about a proposed sale of its complete shareholding in Chinoy Engineering & Construction (Pvt) Limited (CECL), marking a move to divest from its associated company.
According to the material information submitted to the PSX on August 21, 2026, IIL’s Board of Directors recommended the disposal of its entire 17% holding, comprising 4,845,000 ordinary shares with a face value of Rs. 10 each.
The proposed transaction is valued at PKR 350 million, with the shares to be sold at PKR 72.24 per share. The disposal remains subject to the required regulatory approvals as well as approval from IIL’s shareholders.
The company’s Board approved the recommendation at its meeting held on August 20, 2026. Shareholders are scheduled to consider the proposal at IIL’s 78th Annual General Meeting on October 7, 2026.
The proposed sale represents IIL’s complete exit from its 17% investment in CECL. If approved and completed, the transaction will provide IIL with proceeds of PKR 350 million and remove the associated-company investment from its portfolio.
International Industries said the formal notice of the Annual General Meeting would be transmitted in due course. The company has also submitted the information through PUCARS for the information and record of the exchange and its certificate holders.
For investors, the key development to watch will be shareholder approval and the completion of the necessary regulatory process. Until those conditions are fulfilled, the proposed disposal should be viewed as a recommendation rather than a completed transaction.
The announcement was signed by M. Irfan Bhatti, Company Secretary and Head of Legal Affairs of International Industries Limited, on August 21, 2026.
