Arif Habib Corporation acquires more than 10% stake in GRR

MG News | May 29, 2023 at 03:44 PM GMT+05:00

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May 29, 2023 (MLN): Arif Habib Corporation Limited (PSX: AHCL) has purchased 5,247,179 units of Globe Residency REIT (PSX: GRR) on May 25 2023 and is now a holder of more than 10% units in GRR, the company’s filing on PSX showed today.

The average price per unit of this purchase was Rs10.03, and the total value of the transaction was Rs52.7 million which was conducted in the ready market.

AHCL also stated that Arif Habib Group, in combination with other sponsors of GRR, remains in control of more than 50% units of GRR, directly or indirectly, since its inception.

GRR is a real estate investment trust (REIT) established under a Trust Deed between Arif Habib Dolmen REIT Management Limited, as the REIT Management Company and Central Depository Company of Pakistan Limited, as the Trustee.

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