AKBL to explore possibility of merger, amalgamation of ASL with and into FSL

MG News | October 21, 2021 at 02:56 PM GMT+05:00

0:00

October 21, 2021 (MLN): The Askari Bank Limited (AKBL) has informed the exchange that the Board of Directors of the bank consented to the Expression of Interest (EOI) received by Askari Securities Limited (ASL) from Foundation Securities (Pvt) Limited (FSL) to explore the possibility of merger and amalgamation of ASL with and into FSL.

According to the notification sent to PSX, ASL is 100% owned by the Bank and the mentioned EOI will be followed by detailed due diligence to evaluate information and completion of other necessary formalities including necessary regulatory approvals.

The results of the due diligence shall be placed before the Board for further actions in respect of the transaction.

In case of the company, pursuant to the requirements of the Securities Act 2015, the Bank has duly caused this form/statement to be signed on its behalf by the undersigned hereunto duly authorized, it added.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,741.35 410.45M	0.52% 876.82
ALLSHR	103,176.20 904.54M	0.44% 451.08
KSE30	51,932.10 160.24M	0.51% 261.68
KMI30	245,585.80 136.41M	0.55% 1354.98
KMIALLSHR	67,531.86 525.58M	0.58% 390.03
BKTi	45,672.13 42.39M	0.35% 160.88
OGTi	34,337.06 26.90M	1.63% 550.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	85,890.00	90,250.00 85,840.00	-4550.00 -5.03%
BRENT CRUDE	60.35	61.50 60.13	-0.77 -1.26%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	1.15 1.28%
ROTTERDAM COAL MONTHLY	95.75	96.50 95.75	-0.95 -0.98%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.62	57.80 56.40	-0.82 -1.43%
SUGAR #11 WORLD	14.94	15.13 14.78	-0.16 -1.06%