AICL to make equity investment of up to Rs 1 billion in Hyundai Nishat Motor

October 29, 2019 (MLN): The Board of Directors of Adamjee Insurance, in its meeting held on October 29, 2019, has decided to make an equity investment from Rs. 850 million to Rs. 1.05 billion in Hyundai Nishat Motor (Pvt) Limited (HNPL).

According to the official notice issued by the company to PSX in this regard, the amount of Guarantee/SBLC from Rs. 1 Billion to Rs. 1.27 billion at a commission of 0.05% will be charged by the Company to HNPL on any outstanding amount of SBLC per quarter over and above the quarterly commission charged by the Company’s Bank(s) from the Company on the outstanding amount of guarantee / SBLC.

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Posted on: 2019-10-29T16:51:00+05:00