BAFL's Bangladesh division receives acquisition proposal from Sri Lanka's HNB

News Image

MG News | August 26, 2024 at 03:03 PM GMT+05:00

0:00

August 26, 2024 (MLN): In connection with the proposed sale of Bank Alfalah Limited (PSX: BAFL), Bangladesh operations, the bank has received a non-binding offer from Hatton National Bank (HNB) of Sri Lanka to acquire the bank's Bangladesh operations.

This non-binding offer is in addition to the non-binding offer already received from Bank Asia Ltd. (Bangladesh).

The Board of Directors of the Bank has accorded its in-principle approval/acceptance of the non­binding offer received from HNB of Sri Lanka to acquire the Bank's Bangladesh operations/assets and liabilities, subject to compliance with all applicable laws/regulations and obtaining of necessary/ regulatory approvals.

"We will now seek approvals from the central banks of Pakistan and Bangladesh for HNB to commence due diligence on Bank Alfalah, Bangladesh Operations," BAFL informed further in its latest filing on PSX today.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 145,382.80
276.74M
-0.18%
-264.34
ALLSHR 89,824.60
544.97M
-0.09%
-81.76
KSE30 44,614.06
124.57M
-0.32%
-143.97
KMI30 206,959.19
132.52M
-0.48%
-1003.25
KMIALLSHR 59,977.48
292.56M
-0.38%
-231.21
BKTi 39,957.52
20.70M
-0.34%
-136.73
OGTi 30,661.68
43.11M
-0.07%
-21.38
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,425.00 118,405.00
116,295.00
-740.00
-0.63%
BRENT CRUDE 66.32 67.22
65.53
-0.11
-0.17%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 63.35 64.58
62.77
-0.53
-0.83%
SUGAR #11 WORLD 16.27 16.35
16.02
0.26
1.62%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg