BRR Guardian Modaraba merges with BRR Guardian Limited

MG News | July 25, 2023 at 02:36 PM GMT+05:00

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July 25, 2023 (MLN): BRR Guardian Modaraba (PSX: BRR) has announced that the company has merged by way of amalgamation with and into BRR Guardian Limited (BRRG), BRR’s latest filing on PSX revealed.

“The opening price of BRRG will be the closing price of "BRRGM" considering that the swap ratio is 1:1, i.e. Rs11.50” the notice reads.

The notice further states BRRG was purely incorporated for the purpose of the above merger.

BRR's principal activity is leasing (Ijarah) of assets, deployment of funds in musharakas, murabahas and investment in properties, equity and debt securities.

Moreover, it also provides custodial and management services in the name of B.R.R Security Vault.

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