Saudi Pak Consultancy Company Limited (PSX: SPCL) has announced that JD Taurus (Private) Limited intends to acquire a 35.06 percent stake in the company under the provisions of the Securities Act, 2015, following a direction issued by the Securities and Exchange Commission of Pakistan (SECP).
The proposed acquisition was disclosed through a Public Announcement of Intention (PAI) submitted to the Pakistan Stock Exchange (PSX), with Intermarket Securities Limited acting as the manager to the offer.
JD Taurus Plans Share Purchase and Public Offer
According to the filing, JD Taurus aims to acquire 15,835,403 shares, representing 35.06 percent of SPCL’s issued and paid-up capital, through a share purchase agreement.
In addition, the Karachi-based company plans to launch a public offer to acquire another 14,662,549 shares, equivalent to 32.47 percent of the company’s shareholding.
The acquisition process is being carried out in accordance with the Securities Act, 2015, and remains subject to regulatory approvals from the SECP.
Stake Currently Held by SAPICO
The targeted 35.06 percent stake is presently owned by Saudi Pak Industrial & Agricultural Investment Company Limited (SAPICO).
Saudi Pak Consultancy Company, formerly known as Saudi Pak Leasing Company Limited, has a total issued share capital of 45,160,500 shares.
Trading in the company’s shares has remained suspended on the Pakistan Stock Exchange since March 22, 2022.
JD Taurus Incorporated in 2025
JD Taurus (Private) Limited was incorporated on October 28, 2025, and is based in Karachi.
The company is led by Chief Executive and Director Mamoon Ur Rashid Qureishi. The other directors are Muhammad Yaqoob and Zahid Hussain.
According to the disclosure, Mamoon Ur Rashid Qureishi and Muhammad Yaqoob each hold a 40 percent stake in JD Taurus, while Zahid Hussain owns the remaining 20 percent.
SPCL Financial Performance Shows Improvement
Despite the suspension of its shares, Saudi Pak Consultancy Company has recorded a notable financial recovery in recent years.
The company’s revenue increased significantly to Rs146 million in 2025, compared with only Rs9 million in 2020.
Meanwhile, SPCL reported a profit after tax of Rs44 million in 2025, reversing a loss of Rs53 million recorded five years earlier.
Earnings per share stood at Rs0.98 during 2025.
Negative Net Worth Persists
Although profitability has improved, the company continues to face financial challenges.
SPCL reported a negative net worth of Rs399 million, while its total assets amounted to Rs686 million.
The company’s financial position indicates that despite the turnaround in earnings, balance sheet pressures remain.
Deal Subject to Regulatory Approvals
The Public Announcement of Intention remains subject to approvals from the Securities and Exchange Commission of Pakistan.
The disclosure noted that the proposed transaction could be withdrawn if the required regulatory clearances are not obtained.
If completed, the acquisition would mark a significant ownership change for Saudi Pak Consultancy Company and could pave the way for renewed strategic direction for the company.