Bank Al-Habib acquires Habib Asset Management Limited

MG News | May 21, 2020 at 11:48 AM GMT+05:00

0:00

May 21, 2020 (MLN): Bank Al Habib Limited has announced that it has acquired Habib Asset Management Limited (HAML) after receiving regulatory approvals from SBP, SECP, CCP, and the shareholders of the Bank in their AGM held on April 14, 2020.

The company has acquired the remaining 70% (in addition to its existing 30% shareholding) of the issued and paid-up share capital of Habib Asset Management Limited ("HAML") from its existing shareholders at a price of Rs. 7.25 per share, amounting to Rs. 152,250,000, revealed a notification to PSX.

As a result of the aforesaid acquisition of shares, HAML has become Bank's wholly-owned subsidiary.

Further, the regulatory and shareholders' approvals have also been sought for injection of additional equity amounting up to Rs. 450,000,000 into HAML so that HAML can meet the minimum capital requirements prescribed by SECP and to further support the business operations of HAML.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	157,953.47 555.47M	1.14% 1775.65
ALLSHR	96,741.22 1,957.60M	1.16% 1110.83
KSE30	48,198.94 249.79M	1.09% 520.47
KMI30	232,694.17 290.89M	1.31% 3011.94
KMIALLSHR	65,027.13 1,019.78M	1.03% 660.37
BKTi	42,489.56 84.10M	1.35% 566.75
OGTi	31,779.36 15.21M	0.14% 43.57

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,120.00	118,295.00 116,115.00	2295.00 1.98%
BRENT CRUDE	67.51	68.42 67.19	-0.44 -0.65%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	94.00	94.50 94.00	0.45 0.48%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.34	64.20 63.03	-0.36 -0.57%
SUGAR #11 WORLD	16.13	16.27 15.89	-0.14 -0.86%