Awwal Modaraba plans to merge with CRC

News Image

MG News | November 23, 2021 at 09:53 AM GMT+05:00

Join our Whatsapp channel
0:00

November 23, 2021 (MLN): The Awwal Modaraba Management Company intends to merge Awwal Modaraba with a Corporate Restructuring Company (CRC) which is to be established by Pak Brunei Investment Company Limited (PBIC) as its wholly-owned subsidiary, the company informed through a notice to Pakistan Stock Exchange on Monday.

At present, PBIC, directly and indirectly, owns around 99.7% of the total certificate capital of Awwal Modaraba.

The new entity (CRC) will be undertaking business activities prescribed under the Corporate Restructuring Companies Act, 2016 and CRC Rules 2019 issued by SECP as well as guidelines issued by SBP for such companies.

This arrangement will be subject to the completion of necessary corporate and regulatory formalities and approvals from all stakeholders/regulators.

To note, the company on Oct 26, 2021, had resolved in principle to merge all modarabas under the management of Awwal Modaraba Management Limited (AMML).

Copyright Mettis Link News

 

Related News

News
PSX Closing Bell: Bears Tighten Grip
News
GEMNETS wipes out bank loan with IPO proceeds
News
Unity Foods advocates mediation as best path
Name Price/Vol %Chg/NChg
KSE100 146,842.97
308.12M 		-3.21%
-4864.54
ALLSHR 87,967.59
522.14M 		-3.28%
-2983.36
KSE30 44,431.42
152.55M 		-3.24%
-1487.15
KMI30 212,754.03
116.65M 		-3.35%
-7371.19
KMIALLSHR 57,498.02
266.29M 		-3.14%
-1865.50
BKTi 40,085.67
63.43M 		-2.93%
-1211.97
OGTi 30,663.77
19.55M 		-1.69%
-525.64
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 67,015.00 67,200.00
66,845.00 		340.00
0.51%
BRENT CRUDE 114.39 116.89
111.41 		1.82
1.62%
RICHARDS BAY COAL MONTHLY 112.50 112.50
112.00 		1.40
1.26%
ROTTERDAM COAL MONTHLY 122.00 125.40
122.00 		-0.75
-0.61%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00 		0.00
0.00%
CRUDE OIL - WTI 104.87 105.21
104.50 		1.99
1.93%
SUGAR #11 WORLD 15.54 16.10
15.52 		-0.22
-1.40%
Chart of the Day
Latest News
March 31, 2026 at 12:34 AM GMT+05:00

SBP’s FX purchases rise above $1bn in Dec

March 30, 2026 at 05:45 PM GMT+05:00

South Korea may expand vehicle rotation to private sector

Top 5 things to watch in this week
CPI
Trade Balance
MTB Auction
SBP Interventions in Interbank FX Market
National Accounts Q2 FY26
Previous
Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg