JSCIL's bid for Faysal Asset Management falls through

MG News | January 29, 2024 at 09:07 AM GMT+05:00

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January 29, 2024 (MLN): JS Investments Limited's (PSX: JSIL) attempt to acquire Faysal Asset Management Limited has been unsuccessful as Faysal Asset Management turned down the bid, the company's filing on PSX revealed today.

Earlier in August 2023, JSIL stepped forward through a competitive bidding process to submit a binding offer for the acquisition of management rights of Faysal Asset Management Limited's conventional fund portfolio and management rights.

JSIL is a subsidiary of JS Bank Limited which is a subsidiary of JSCL (Jahangir Siddiqui & Co. Limited), Ultimate Parent. The company is engaged in asset management and pension fund management.

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