Fauji Foundation has acquired a 19.70 percent stake in Pakistan Services Limited, the company behind the Pearl-Continental hotel chain, for approximately Rs6.55 billion.
The acquisition marks the foundation’s entry as a significant shareholder in Pakistan’s hospitality sector. According to a disclosure submitted to the Pakistan Stock Exchange on November 3, the transaction took place on November 2.
Details of the Share Acquisition
Fauji Foundation purchased 6,406,797 voting shares at Rs1,022.42 per share. The acquisition represents its entire shareholding in Pakistan Services Limited.
The company confirmed receiving a letter from the foundation dated November 2. The disclosure was submitted under Section 110 of the Securities Act, 2015, and relevant takeover regulations.
Pakistan Services subsequently requested the stock exchange to make the information publicly available.
PC Hotels Owner Has Several Hospitality Brands
Pakistan Services Limited owns and operates the Pearl-Continental hotel chain. Its hospitality portfolio also includes Pearl-Continental Residences and Hotel One.
The company manages properties serving business travellers, tourists and corporate clients across Pakistan.
Fauji Foundation is a charitable trust established to support former servicemen and their families.
Acquisition Follows Ownership Dispute
The latest purchase comes amid a prolonged ownership dispute involving Pakistan Services Limited.
AKD Group acquired a 27.95 percent stake in July 2025, while Thatta Cement purchased approximately 28 percent in October 2025. Both transactions faced legal challenges from the Hashwani Group, which acquired the company in 1985.
Fauji Foundation’s purchase price of Rs1,022.42 per share is around 44 percent higher than the Rs710 paid by Thatta Cement in 2025. The acquisition adds another major shareholder to the company. However, the foundation currently has no nominee director on Pakistan Services’ board.
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