BAFL decides to increase its shareholding to 62.5% in Alfalah CLSA Securities

MG News | February 02, 2022 at 03:07 PM GMT+05:00

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February 2, 2022 (MLN): The board of directors of Bank Alfalah Limited (BAFL) has authorized the bank to acquire 521,739 additional ordinary shares of its subsidiary Alfalah CLSA Securities (Pvt) Limited from minority shareholders of the company, bank’s notification to bourse showed today.

These shares, having value of Rs10 each, represent 1.3% of the share capital of Alfalah CLSA Securities.

As a result of the aforesaid acquisition, BAFL’s shareholdings in the company will stand at 24,999,912 ordinary shares i.e., 62.5%.

Such purchase shall be subject to obtaining all necessary corporate and regulatory approvals and completion of related formalities, the notice said.

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