Fauji Foundation acquires nearly 20% stake in Pearl Continental owner for Rs6.55 billion

Business Recorder reported that Fauji Foundation bought a 19.70% holding in Pakistan Services Limited, the operator of Pearl Continental hotels, for about Rs6.55 billion. The purchase covered 6,406,797 voting shares acquired on November 2, 2026, at Rs1,022.42 each, lifting Fauji Foundation’s total ownership to 19.70%. Pakistan Services notified the PSX of the transaction under securities disclosure rules.

Pakistan Services also owns and manages its hotel chain, franchises its brand and runs a budget hotel in Lahore. Its shareholding has shifted in recent years: AKD Group Holdings and Dawood Jan Mohammad bought stakes in July last year, followed by Thatta Cement’s announced 28% acquisition. In September 2026, Thatta Cement said it had an initial understanding on a proposed restructuring of Pakistan Services to settle a matter before the Islamabad High Court.