IGI Investments plans to acquire 40.63% stake in MFFL

MG News | December 12, 2024 at 10:27 AM GMT+05:00

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December 12, 2024 (MLN): The Board of Directors of IGI Investments has granted in-principle approval to explore the purchase of a substantial stake in Mitchell’s Fruit Farms Limited (PSX: MFFL).

This decision was made during a board meeting held on December 11, 2024, and allows IGI Investments to proceed with due diligence for the potential acquisition.

The proposed transaction involves acquiring up to 40.63% of the shares of two significant stakeholders, Syeda Maimanat Mohsin and Syeda Matanat Ghaflal.

The Proposed Transaction will be carried out subject to compliance with applicable laws including the Securities Act, 2015 and upon fulfilment of applicable corporate and regulatory approvals.

IGI Investments (Private) Limited (`IGI Investments') is a 100% wholly owned subsidiary of lGI Holdings Limited (PSX: IGIHL).

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