Faysal Bank to acquire 19.99% voting shares in Faysal Asset Management

According to a notice filed on the exchange, Faysal Bank has shown intention to acquire up to 19.99 percent equivalent to 2,998,000 shares at Rs. 30/- per share of Faysal Asset Management Limited from Mr. Razi-ur-Rehman Khan.

According to the notice filed on the bourse, “Faysal Bank intends to acquire up to 19.99% voting shares of its Associated Company M/s. Faysal Asset Management Limited i.e. 2,998,000 shares from Mr. Razi-ur-Rehman Khan.”

Furthermore, the company announced that “the valuation of shares has been calculated by KPMG Taseer Hasi & Company, Chartered Accountants at the rate of PKR. 30/- per share.”

“Board of Directors of the Faysal Bank Limited has approved the said acquisition of up to 19.99% shares from Mr. Razi-ur-Rehman Khan of FAML, subject to all relevant Regulatory and Shareholders approvals.”