In what appears to be a coordinated move, two firms have acquired approximately 56% stakes in Pakistan Services Limited (PSL), the company that owns and manages the Pearl Continental Hotels chain. This has sparked considerable speculation regarding a potential takeover, as reported by The News on Monday.
According to information filed with the Pakistan Stock Exchange under the Securities Act 2015, Dawood Jan Muhammad acquired 28% of Pakistan Services Limited shares on July 14, 2025. This investor purchased 9,107,800 shares at a rate of Rs700 per share, totaling over Rs6.37 billion.
Similarly, AKD Holding also submitted information indicating the purchase of 27.9% of Pakistan Services Limited shares on July 14. This acquisition involved 9,089,651 shares of Pakistan Services Limited, also at Rs700 per share, amounting to over Rs6.3 billion.
Collectively, these two separate transactions account for 18,197,550 shares of PSL, purchased at Rs700 per share, with a combined value exceeding Rs12 billion.
According to market experts, if these two distinct purchases are considered together, they represent about 55.95% of the company’s total shares. This percentage is generally sufficient to take over the management control of the company’s board. Mohammed Sohail, Chief Executive of Topline Securities, confirmed that indeed, if two parties acquire 55.95% of Pakistan Services Limited’s shares, they can effectively take over the company. He further suggested that while the deal could be perceived as a hostile takeover, it’s also plausible that it was executed with a mutual understanding between both parties involved.
The company had previously informed the Pakistan Stock Exchange about the postponement of its board meeting on June 30. PSL currently operates nine hotels and one subsidiary within the country. The price of PSL shares closed at Rs782 on July 11 and saw a 10% increase to Rs1,050 at the close of business on July 20.
