BOP buys Punjab Capital Securities from FPJM for Rs85.49m

By MG News | July 05, 2023 at 02:39 PM GMT+05:00

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July 05, 2023 (MLN): First Punjab Modaraba (PSX: FPJM) has sold its 100% shareholding in a wholly owned subsidiary namely Punjab Capital Securities (Pvt) Limited to The Bank of Punjab (PSX: BOP) at a price of Rs85.487 million, the company's filing on the bourse showed.

BOP is the parent bank of FPJM.

FPJM is a perpetual, multi-purpose, and multi-dimensional modaraba and is primarily engaged in the business of ijarah, musharika and morabaha financing, equity investment, and other related business in accordance with the injunctions of Islam.

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