Pakistan Cables Limited has agreed to sell its entire 17 percent stake in Chinoy Engineering & Construction (Private) Limited to the company for about Rs. 350 million, according to a disclosure to the Pakistan Stock Exchange.
The board of Pakistan Cables approved the offer from Chinoy Engineering & Construction at its meeting on Sept. 3, 2026. The company holds 4.845 million ordinary shares in Chinoy Engineering, representing 17 percent of its issued and paid up capital.
Chinoy Engineering has offered to buy the shares at approximately Rs. 72.24 each, for a total consideration of about Rs. 350 million.
The transaction is subject to the required corporate, regulatory and shareholder approvals, along with completion of the necessary documentation and other formalities.
Chinoy Engineering & Construction (CECL) was established in 2024 as an associate company of the Amir S. Chinoy Group, which includes International Industries, Pakistan Cables and International Steels.
The company was set up to expand the group into construction and engineering services and secured a contract with Reko Diq Mining Company to design and build a permanent accommodation camp at the Reko Diq copper and gold mines in Balochistan.
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