AKD Group Holdings acquires key stake in Pearl Continental Hotels chain
PSL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday.
'The company has received a letter dated July 15, 2025 from AKD Group Holding (Private) Limited, formerly Aqeel Karim Dhedhi Securities (Private) Limited, wherein they have made disclosure in term 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 27.95% voting shares of the company,' read the notice.
As per the notice, AKD Group Holdings (Private) Limited, along with its subsidiary AKD Securities Limited, acquired on July 14, 2025, 9,089,651 voting shares of Pakistan Services Company at a rate of Rs700/- per share, which amounts to over Rs6.36 billion.
On account of this acquisition, AKD Group Holdings' total shareholding in Pakistan Services Limited is 9,089,651 shares, which represents 27.95% of the total issued voting shares of the company, it said.
Pakistan Services Limited is principally engaged in the hotel business and owns and manages the chain of Pearl Continental Hotels.
As per the company's information available on PSX, PSL also owns a small-sized property in Lahore, operating under the budget hotel concept.
PSL also grants a franchise to use its trade mark and name 'Pearl Continental'.
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