HMIM board approves merger with Sego Pakistan

Mettis Global reported that Haji Mohammad Ismail Mills Limited’s board approved a draft merger scheme on November 3, 2026, under which Sego Pakistan (Private) Limited would be absorbed into HMIM. The proposal covers Sego’s complete business, assets, liabilities and related rights and obligations, and still requires shareholder, regulatory and court approvals.

HMIM would issue 244,831,768 ordinary shares, each with a face value of Rs10, to Sego shareholders. The exchange ratio is 1.0875 HMIM shares for every Sego share, and the scheme lists July 1, 2026 as its effective date. It also proposes renaming HMIM as Sego Pakistan Limited and shifting its principal business to mobile phones, related equipment and services; a joint petition is to be filed with the Sindh High Court in Karachi.