ESBL rejects RMS Limited's bid to acquire majority stake

MG News | February 27, 2024 at 03:04 PM GMT+05:00

0:00

February 27, 2024 (MLN): Escorts Investment Bank Limited (PSX: ESBL) has declined RMS (Private) Limited's offer to acquire up to 87.96% of the company's ordinary shares, as stated in a notification issued by ESBL on PSX today.

To recall, RMS Limited made the offer to acquire a majority stake in ESBL on August 16, 2023.

ESBL has stated that it currently has no intention to sell the company, which is why it is declining the offer.

The company is licensed to carry out investment finance services, as a Non-Banking Finance Company.

At the time of writing, the company's scrip is trading under the green zone, with a gain of 25 paisa or 5.81% DoD.

Copyright Mettis Link News

Related News

PACRA maintains Nimir Chemicals' ratings

TOMCL secures $7.5m export orders for China

Systems limited board approves potential IT services acquisition

Name	Price/Vol	%Chg/NChg
KSE100	156,151.78 197.46M	-0.02% -29.16
ALLSHR	95,702.49 737.04M	0.01% 11.67
KSE30	47,676.38 128.54M	-0.08% -38.01
KMI30	229,659.82 85.02M	-0.03% -62.27
KMIALLSHR	64,355.81 272.99M	-0.10% -64.27
BKTi	42,037.12 78.00M	0.16% 67.61
OGTi	31,755.26 8.64M	-0.74% -236.51

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,430.00	117,635.00 116,465.00	340.00 0.29%
BRENT CRUDE	68.44	68.59 68.26	-0.03 -0.04%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.35	93.50 93.15	0.50 0.54%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	64.51	64.67 64.34	-0.01 -0.02%
SUGAR #11 WORLD	16.55	16.74 16.52	-0.18 -1.08%