Pakistan Cables Board Approves Sale Of 17% Chinoy Engineering Stake
Pakistan Cables Limited has agreed to sell its entire 17 percent stake in Chinoy Engineering & Construction (Private) Limited to … Read More The post Pakistan Cables Board Approves Sale Of 17% Chinoy Engineering Stake appeared first on ProPakistani .
The board of Pakistan Cables Limited has given the green light to sell its 17 percent stake in Chinoy Engineering & Construction (Private) Limited, a disclosure to the Pakistan Stock Exchange revealed on September 3, 2026. In exchange for the shares, Chinoy Engineering will pay roughly Rs. 350 million. The company currently owns 4.845 million ordinary shares, accounting for 17 percent of Chinoy Engineering's total issued and fully paid capital.
The acquiring entity, Chinoy Engineering, has proposed to purchase the shares at approximately Rs. 72.24 each, totaling around Rs. 350 million. The deal is contingent upon obtaining the necessary corporate, regulatory, and shareholder approvals, as well as the completion of all requisite documentation and formalities. Chinoy Engineering & Construction, established in 2024, serves as an associate company of the Amir S. Chinoy Group, which comprises International Industries, Pakistan Cables, and International Steels.
The firm was founded to broaden the group's involvement in construction and engineering services. It secured a contract with Reko Diq Mining Company to design and construct a permanent accommodation camp at the Reko Diq copper and gold mines in Balochistan.
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