Babar Ali Foundation, IGI Investments exit Mitchells Fruit Farms with stake sale
IGI Holdings, the parent company of IGI Investments, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday.
'We have received intimation dated July 23, 2025 from a substantial shareholder of the company i.e. Babar Ali Foundation that the foundation and members of its board of governors have sold their respective shareholdings of 2.43% and 0.70% in Mitchells Fruit Farms Limited (Mitchells) to CCL Holding (Private) Limited at a negotiated price of Rs232.75/share on July 23, 2025,' read the notice.
Similarly, IGI Investments has also sold its entire shareholdings of 3.72% in Mitchells to CCL Holding (Private) Limited at a negotiated price of Rs232.75/share on July 23, 2025, under applicable corporate and regulatory approvals, it added.
CCL Holding is a holding company of a wholly-owned subsidiary, CCL Pharmaceuticals (Pvt) Limited, which is principally engaged in the manufacturing and marketing of branded generic pharmaceuticals and consumer health products.
Meanwhile, Mitchell's Fruit Farms Limited, a Pakistani manufacturer of farm and confectionery products, has a history that dates back to 1933. After Independence, the company's name was changed from Indian Mildura Fruit Farms to Mitchells Fruit Farms Limited.
The company went public in 1993 and was listed on the stock exchange in 1996. The principal activity of the company is the manufacturing and sales of various farm and confectionary products, including beverages, ketchups and sauces, preserves, ready-to-cook and ready-to-eat food range, etc.
Earlier in May, MFFL entered into a Share Purchase Agreement with CCL Holding (Private) Limited.
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