Pak Brunei Investment Company commences the acquisition of KASBM’s Modaraba Certificates
MG News | February 11, 2021 at 12:25 PM GMT+05:00
February 11, 2021 (MLN): Pak Brunei Investment Company Limited, the holding company of Awwal Modaraba Management Limited (AMML), has commenced the acquisition of KASBM’s Modaraba Certificates to comply with the directions of the Securities and Exchange Commission of Pakistan (SECP)
To recall, SECP had transferred the management rights of KASB Modaraba (KASBM) to AMML through competitive bidding on January 31, 2020. One of the conditions for the transfer of management rights of KASBM to AMML is that AMML shall hold and/or acquire a minimum statutory holding of ten percent (10%) of the issued certificate capital of KASBM.
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