Fauji Foundation acquires nearly 20% stake in Pakistan Services for Rs6.55 billion
- Fauji Foundation acquired 6,406,797 voting shares of Pakistan Services on November 2, 2026, at Rs1,022.42 per share,
Fauji Foundation, one of Pakistan’s largest conglomerates, has acquired a 19.70% stake in Pakistan Services Limited (PSL) for approximately Rs6.55 billion, i.e. $23.7 million.
PSL disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday.
Fauji Foundation acquired 6,406,797 voting shares of Pakistan Services on November 2, 2026, at Rs1,022.42 per share, taking its total shareholding in the company to 19.70% of its voting shares, the disclosure said.
The acquisition was notified under Section 110 of the Securities Act, 2015.
Pakistan Services said it had received a letter dated November 2 from Fauji Foundation regarding the acquisition of the stake.
“The company has received a letter dated November 02, 2026 from Fauji Foundation wherein they have made disclosure in terms of Section 110 of the Securities Act, 2015 read with Regulation 4 (2) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 with respect to the acquisition of 19.70 % voting shares of the company.”
Pakistan Services Limited (PSL) was established in 1958 as a public limited company. The company’s primary business involves owning and managing the “Pearl Continental” chain of hotels. It also grants franchises for the use of its trademark and name and operates a smaller budget hotel property in Lahore.
The company has observed significant changes in shareholding in recent years.
Last year in July, AKD Group Holdings (Private) Limited acquired a 27.95% stake in PSL for over Rs6.36 billion. On the same day, Dawood Jan Mohammad acquired 28% of PSL’s voting shares at Rs700 per share.
Following this, Thatta Cement Company Limited announced its acquisition of a 28% stake in PSL for Rs6.45 billion (Rs710 per share).
In September 2026, Thatta Cement Company Limited reached an in-principle understanding for a proposed restructuring of PSL to amicably resolve the matter pending before the Islamabad High Court.
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