Fauji Foundation acquires nearly 20% stake in Pakistan Services for Rs6.55 billion

Fauji Foundation bought 6,406,797 voting shares in Pakistan Services Limited on November 2, lifting its holding to 19.70%, Business Recorder reported. The shares were acquired at Rs1,022.42 each, for a total of approximately Rs6.55 billion, or $23.7 million.

Pakistan Services notified the Pakistan Stock Exchange of the transaction, which was disclosed under Section 110 of the Securities Act, 2015. The company owns and manages the Pearl Continental hotel chain, grants use of its brand through franchises, and runs a smaller budget hotel in Lahore.

The shareholding has shifted among several investors in recent years. Last July, AKD Group Holdings bought 27.95% and Dawood Jan Mohammad acquired 28%; Thatta Cement later announced a 28% stake purchase, and in September 2026 it reached an in-principle understanding on a proposed Pakistan Services restructuring.