IGI Investments invests Rs100mn in Milvik Mobile

MG News | March 22, 2023 at 02:08 PM GMT+05:00

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March 22, 2023 (MLN): IGI Investments, a wholly-owned subsidiary of IGI Holdings Limited has invested Rs100 million in Milvik Mobile Pakistan Limited, the company's filing on PSX showed today.

The investment has been made through redeemable/convertible preference shares/debt instrument mechanism in accordance with the terms and conditions of Subscription Agreement and Shareholder's Agreements.

This investment subscription is part of the overall investment program of acquiring upto 19.98% equity stake in Milvik Mobile Pakistan Limited in multiple tranches over the next couple of years subject to the terms and conditions of the Definitive Agreements.

The development is expected to provide long-term benefits to both companies and help them achieve their strategic goals.

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