Haji Mohammad Ismail Mills Limited has approved a draft Scheme of Arrangement for the merger of Sego Pakistan (Private) Limited into the company, marking a proposed strategic shift towards the telecommunications and electronic equipment business.
According to a disclosure submitted to the Pakistan Stock Exchange (PSX) on November 3, 2026, the company’s Board of Directors approved the draft scheme at its meeting held on the same date. The proposed merger is subject to shareholders’ approval, relevant regulatory permissions and sanctions, and approval from the Honourable High Court of Sindh at Karachi.
Sego Pakistan’s Entire Business to Be Merged
Under the proposed arrangement, the entire undertaking of Sego Pakistan (Private) Limited, including its assets, liabilities, privileges, obligations, rights and business operations, will be amalgamated with Haji Mohammad Ismail Mills Limited.
As consideration for the merger, the company plans to issue 244,831,768 ordinary shares of Rs. 10 each to Sego Pakistan’s shareholders. The shares will be distributed according to an agreed swap ratio of 1.0875 ordinary shares of Haji Mohammad Ismail Mills Limited for every one ordinary share of Sego Pakistan.
Following completion of the merger, Sego Pakistan will stand dissolved without winding up, while all its existing shares will be cancelled.
Company Plans to Change Its Name to Sego Pakistan Limited
The proposed scheme also includes a change in the company’s name from Haji Mohammad Ismail Mills Limited to Sego Pakistan Limited.
Alongside the name change, the company intends to transform its principal business activities. The proposed new business operations will include assembling, manufacturing, importing, exporting, purchasing, selling and distributing mobile phones, mobile phone parts, accessories, batteries and related telecommunications and electronic equipment.
The company will also provide after-sales and other services associated with these products, indicating its intention to establish a presence in the telecommunications and electronics market.
Regulatory Approval and Next Steps
The company stated that a joint petition concerning the proposed Scheme of Arrangement will be filed with the Honourable High Court of Sindh at Karachi in due course.
The proposed effective date of the scheme is July 1, 2026. However, implementation remains subject to the required legal approvals and any modifications directed by the court.
The scheme will also be circulated among Pakistan Stock Exchange Limited and the company’s shareholders, subject to the directions and orders of the High Court.
A Significant Proposed Business Transformation
The proposed merger represents a major change in the company’s business direction, moving from its existing identity as a mills company towards telecommunications and electronic equipment.
If completed, the transaction will bring Sego Pakistan’s entire business into the company and establish Sego Pakistan Limited as its proposed new corporate identity.
Investors and shareholders will be watching the regulatory approval process and subsequent developments to assess the potential implications of this corporate restructuring.
