First IBL Modaraba plans subsidiary for EV Mobility, Trading

MG News | November 06, 2026 at 02:30 PM GMT+05:00

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November 06, 2026 (MLN): First IBL Modaraba (PSX: FIBLM) has accorded in-principle approval for the formation of a subsidiary, subject to obtaining requisite regulatory approvals and completion of all applicable legal and statutory formalities.

The approval was granted pursuant to a resolution passed at the Board of Directors’ meeting held on October 27, 2026.

The proposed subsidiary will explore and undertake potential business opportunities, including Electric Vehicle (EV) Mobility and its allied businesses, trading activities, and other profitable avenues.

The aforementioned information was disseminated through a notification to Exchange.

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