Arif Habib Ltd to sell its subsidiary for Rs50mn

MG News | March 10, 2022 at 11:47 AM GMT+05:00

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March 10, 2022 (MLN): The Board of Directors of Arif Habib Limited (AHL) has resolved to disinvest or sell AHL’s shareholding in Arif Habib 1857 (Pvt) Limited, for total consideration of Rs50 million, i.e., Rs10 per share, a notice issued to bourse showed today.

Arif Habib 1857 (Pvt) Limited is a wholly owned subsidiary of AHL. The aforesaid resolution is subject to obtaining necessary corporate and regular approvals.

As on December 31, 2022, AHL was carrying the subject investment at Rs43.56 million and the net assets of Arif Habib 1857 (Private) Limited were Rs48.63 million, the notice said.

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