Investors’ consortium submits PAI to acquire 84.5% stake in Samba Bank

December 21, 2021 (MLN): The consortium comprising the existing management of Samba Bank Limited, Fatima Fertilizer Company Limited and Gulf Islamic Investments LLC (the acquirers) has submitted a Public Announcement of Intention (PAI) to acquire up to 852,062,525 shares of Samba Bank or 84.51% of the total issued paid-up capital of the target company, said a notification issued to the PSX today.

On behalf of a consortium, Arif Habib Limited (AHL) submitted the said PAI as it had been appointed as the manager to offer by the consortium in accordance with the provision of the Securities Act 2015 and the Listed Companies Regulations, 2017.

Fatima Fertilizer Company Limited (FFCL) is engaged in manufacturing and trading fertilizers and chemicals. FFCL is part of Fatima Group which is one of the most innovative and progressive business groups in Pakistan and plays a leading role in a number of sectors it operates in.

Going by the notice, the authorized share capital of FFCL is Rs27bn divided into 2,700,010,000 shares of Rs10 each.

Gulf Islamic Investments LLC provides Financial Analysis and Financial Consultancy /Advisory services for Shariah-compliant alternative investments such as private equity, venture capital and real estate. Gulf Islamic Investment LLC is part of GII Holding group (GII). Meanwhile, the authorized share capital of the company is AED10.810mn divided into 108,100 ordinary shares of AED100 each.

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Posted on: 2021-12-21T13:40:37+05:00

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