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

Wahdat's IPO: Crack This Before You Subscribe

Weekly Market Roundup

FFC hikes Sona Urea price by Rs125 amid rising fuel costs

Name	Price/Vol	%Chg/NChg
KSE100	173,155.79 524.20M	0.56% 959.09
ALLSHR	103,349.03 1,137.90M	0.55% 560.51
KSE30	52,620.81 234.49M	0.57% 300.73
KMI30	248,144.37 294.93M	0.16% 396.98
KMIALLSHR	66,873.17 579.31M	0.16% 110.07
BKTi	49,291.73 108.05M	1.73% 837.50
OGTi	36,250.66 12.34M	-0.22% -80.19

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	75,025.00	77,030.00 74,860.00	-1355.00 -1.77%
BRENT CRUDE	100.83	101.02 93.86	5.35 5.60%
RICHARDS BAY COAL MONTHLY	103.25	0.00 0.00	-0.15 -0.15%
ROTTERDAM COAL MONTHLY	101.40	0.00 0.00	-0.20 -0.20%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	91.95	92.21 85.50	4.53 5.18%
SUGAR #11 WORLD	13.71	13.85 13.51	0.07 0.51%