BankIslami approves AKD Securities' bid for acquisition of 77 million shares of BIPL Securities

MG News | November 20, 2020 at 03:29 PM GMT+05:00

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November 20, 2020 (MLN): Banklslami Pakistan Limited (BIPL) has approved the final bid of AKD Securities Limited (AKD) for the purchase of BIPL's entire shareholding of 77,117,500 shares in BIPL Securities Limited (Target Company) at a price of PKR 8.60 per share and in this regard will be entering into a share purchase agreement with AKD (as the purchaser) immediately upon completion of procedural formalities under applicable laws.

It is pertinent to mention that BIPL Securities Limited is a subsidiary company of Banklslami Pakistan Limited (BIPL).

‘The Pakistan Stock Exchange is requested to make the above information immediately available to the shareholders of the Target Company under PSX Rule Book by placing it on the notice board and through a notification on an automated information system and make an announcement on the house of the Exchange’, the notification to PSX said.

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