BIPL discontinues transaction of sale of 8 mln shares of BankIslami Modaraba Investments to BRR Investment Limited

By MG News | June 08, 2020 at 12:32 PM GMT+05:00

0:00

June 8, 2020 (MLN): The BankIslami Pakistan (BIPL) via notification to Exchange has informed that it has discontinued the Proposed Transaction for the sale of 8,000,000 shares of BankIslami Modaraba Investments Limited (BMIL) which represents 100% of the issued and paid up ordinary share capital of BMIL, to BRR Investment Pvt. Limited.

The decision to discontinue transaction taken due to failing to secure the necessary regulatory approvals.

Earlier, the Bank had approved the Proposed Transaction, subject to procurement of all corporate and regulatory approvals and finalization of transaction documentation.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	125,627.31 258.99M	1.00% 1248.25
ALLSHR	78,584.71 1,142.41M	1.16% 904.89
KSE30	38,153.79 69.25M	0.63% 238.06
KMI30	184,886.50 91.38M	0.01% 13.72
KMIALLSHR	53,763.81 554.57M	0.54% 290.61
BKTi	31,921.68 33.15M	1.78% 557.94
OGTi	27,773.98 9.65M	-0.40% -112.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,650.00	107,860.00 107,555.00	-585.00 -0.54%
BRENT CRUDE	66.63	67.20 65.92	-0.17 -0.25%
RICHARDS BAY COAL MONTHLY	97.00	97.00 97.00	1.05 1.09%
ROTTERDAM COAL MONTHLY	107.65	107.65 105.85	1.25 1.17%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.96	65.02 64.83	-0.15 -0.23%
SUGAR #11 WORLD	16.19	16.74 16.14	-0.52 -3.11%