Fauji Foundation expresses interest to acquire majority stake in Silkbank Limited

MG News | January 28, 2021 at 01:39 PM GMT+05:00

0:00

January 28, 2021 (MLN): Fauji Foundation (FF) has expressed an interest in acquiring the majority stake in Silkbank Limited.

As a part of the process, Silk bank has been requested to allow Fauji Foundation to conduct due diligence of Silkbank and in this regard, FF intends to apply to the State Bank of Pakistan (SBP) for the approval of the same.

In a notification to Exchange, Silkbank notifies that the Boards of Directors of the bank in its meeting held on today, has subject to the approval of SBP, given its in-principle approval to allow Fauji Foundation to conduct the required due diligence and evaluate the information that will be provided by Silkbank in this regard.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	164,364.31 104.33M	-0.05% -80.41
ALLSHR	100,251.59 573.79M	-0.01% -11.63
KSE30	50,308.01 23.96M	-0.32% -159.15
KMI30	239,630.64 15.30M	0.10% 249.51
KMIALLSHR	66,183.40 126.50M	0.06% 39.95
BKTi	46,413.83 10.44M	-0.42% -196.15
OGTi	32,132.56 4.33M	-0.35% -112.77

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,215.00	109,470.00 107,980.00	770.00 0.71%
BRENT CRUDE	61.00	61.11 60.59	-0.06 -0.10%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-0.75 -0.92%
ROTTERDAM COAL MONTHLY	93.00	93.00 92.50	1.95 2.14%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	56.92	57.09 56.51	-0.54 -0.94%
SUGAR #11 WORLD	15.85	15.87 15.58	0.16 1.02%