Pace (Pakistan) Limited has received regulatory approval to issue new shares at a discounted price as part of its ongoing financial restructuring efforts.

In a notification submitted to the Pakistan Stock Exchange, the company announced that the Securities and Exchange Commission of Pakistan has approved the issuance of 140 million ordinary shares at Rs. 9 per share.

The transaction represents a total value of approximately Rs. 1.261 billion and follows special resolutions passed by shareholders during an Extraordinary General Meeting held in September 2025.

According to the company’s filing, the shares will be issued through a mechanism other than a traditional rights offering and will be allocated to specific parties against non-cash consideration.

The issuance is primarily linked to the conversion of long-outstanding Temporary Finance Certificates (TFCs), financial liabilities, and certain property-related arrangements under Section 83(1)(b) of the Companies Act, 2017, along with applicable regulations governing further issuance of shares.

Pace Pakistan stated that the newly issued shares will remain subject to a six-month lock-in period in accordance with takeover and substantial acquisition regulations applicable to listed companies.

The company has been pursuing debt restructuring and settlement initiatives in recent years as part of broader efforts aimed at strengthening its balance sheet, reducing liabilities, and stabilizing operations.