The foundation purchased over 6.4 million shares in Pakistan Services Limited at Rs1,022.42 per share, marking another major development in the company’s ownership changes.
Fauji Foundation has acquired a 19.70% stake in Pakistan Services Limited, the company that owns and operates the Pearl-Continental (PC) hotel chain, in a transaction worth approximately Rs6.55 billion.
According to a disclosure submitted to the Pakistan Stock Exchange (PSX), Fauji Foundation purchased 6,406,797 voting shares in Pakistan Services on November 2, 2026, at Rs1,022.42 per share.
The acquisition gives the foundation ownership of 19.70% of the company’s total voting shares.
Pakistan Services confirmed that it received a letter from Fauji Foundation dated November 2, informing the company about the share purchase. The transaction was disclosed under Section 110 of the Securities Act, 2015, and the relevant takeover regulations.
Company Behind the Pearl-Continental Hotels
Established in 1958, Pakistan Services Limited owns and manages the Pearl-Continental hotel chain. Its hospitality business also includes Pearl-Continental Residences, Hotel One and other hotel-related operations.
The company also provides franchises for the use of its hotel brand and operates a budget hotel property in Lahore.
Another Major Change in Ownership
Pakistan Services has experienced several major shareholding changes since 2025.
In July 2025, AKD Group Holdings acquired a 27.95% stake in the company, while Dawood Jan Mohammad also purchased 28% of its voting shares.
Thatta Cement Company Limited later acquired a stake of around 28% in October 2025.
These transactions became part of a wider ownership dispute involving the company’s shareholders, with legal proceedings taking place before the Islamabad High Court.
In September 2026, Thatta Cement confirmed an in-principle understanding on a proposed restructuring of Pakistan Services. However, the final terms and agreements were still pending at the time of that announcement.
Fauji Foundation’s latest acquisition adds another major shareholder to the company’s ownership structure. The disclosed purchase confirms a 19.70% shareholding, but does not itself confirm a change in control or the transfer of individual hotel properties.
