Habib Metropolitan Modaraba to merge with First Habib Modaraba
MG News | March 30, 2022 at 02:53 PM GMT+05:00
March 30, 2022 (MLN): The Board of Directors of Habib Metropolitan Modaraba Management Company (Private) Limited, being the Modaraba Management Company for Habib Metro Modaraba held on March 30, 2022, has resolved in principle to merge Habib Metro Modaraba with and into First Habib Modaraba.
However, this merger is subject to the approval of the Securities and Exchange Commission of Pakistan (SECP) and other concerned authorities.
The merger is likely to benefit the certificate holders through cost efficiencies and business synergies.
The board has advised the management to undertake necessary steps in this regard.
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