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November 14, 2024 (MLN): Bank Alfalah Limited (BAFL) has withdrawn its earlier public announcement of intention to acquire Saudi National Bank's 84.51% shareholding in Samba Bank Limited (PSX: SBL).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	176,466.99 391.91M	-0.29% -508.69
ALLSHR	107,178.51 781.97M	-0.24% -253.36
KSE30	52,632.43 92.87M	-0.13% -70.29
KMI30	251,849.50 126.87M	0.08% 192.66
KMIALLSHR	69,352.60 533.28M	-0.09% -65.04
BKTi	49,554.95 34.44M	-0.88% -441.23
OGTi	36,109.95 10.99M	0.10% 35.12

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,660.00	79,530.00 76,645.00	-1585.00 -2.00%
BRENT CRUDE	95.19	95.45 90.70	4.70 5.19%
RICHARDS BAY COAL MONTHLY	122.50	122.50 122.00	1.60 1.32%
ROTTERDAM COAL MONTHLY	135.55	135.55 133.95	1.75 1.31%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	90.68	90.97 86.13	4.92 5.74%
SUGAR #11 WORLD	18.38	18.41 17.67	0.57 3.20%