Bank Alfalah withdraws bid for 84.51% stake in Samba Bank

MG News | November 14, 2024 at 11:23 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 14, 2024 (MLN): Bank Alfalah Limited (BAFL) has withdrawn its earlier public announcement of intention to acquire Saudi National Bank's 84.51% shareholding in Samba Bank Limited (PSX: SBL).

Arif Habib Limited, as Manager to the Offer on behalf of BAFL, submitted the withdrawal, as per BAFL’s filing on the Pakistan Stock Exchange (PSX) today.

Interestingly, the State Bank of Pakistan (SBP) had granted its in-principle approval for BAFL to conduct due diligence on SBL for the proposed acquisition.

However, SNB, the majority shareholder of SBL has terminated the process for the sale of its equity stake.

The decision follows the completion of due diligence and exploration efforts related to the potential sale.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	186,255.55 395.22M	-0.64% -1199.14
ALLSHR	112,499.75 980.44M	-0.62% -698.84
KSE30	55,672.44 178.75M	-0.82% -457.96
KMI30	263,007.85 128.24M	-1.01% -2680.92
KMIALLSHR	72,266.81 499.03M	-0.84% -611.28
BKTi	52,849.34 95.11M	-0.06% -29.30
OGTi	37,768.53 9.14M	-1.79% -688.00

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,980.00	64,770.00 62,760.00	95.00 0.15%
BRENT CRUDE	75.69	76.36 72.04	3.70 5.14%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.55 -0.52%
ROTTERDAM COAL MONTHLY	119.70	119.75 117.95	0.70 0.59%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	71.90	72.51 68.58	3.35 4.89%
SUGAR #11 WORLD	15.10	15.29 15.05	-0.12 -0.79%