JSGCL BoD’s agrees to invest in, acquire, control EFG Hermes

MG News | January 23, 2023 at 03:00 PM GMT+05:00

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January 23, 2023 (MLN): The board of directors of JS Global Capital Limited (JSGCL) on Monday approved to invest in to and acquire majority shares and control of EFG Hermes Pakistan Limited, a notice issued by the company to PSX showed.

“The proposed investment and acquisition of majority shares and control of EFG Hermes Pakistan Limited remain subject to all final corporate and regulatory approvals (including, but not limited to, approvals by the Securities and Exchange Commission of Pakistan (SECP), Pakistan Stock Exchange (PSX), and Competition Commission of Pakistan) and subject to favorable due diligence and valuation results”, the notification read.

Earlier, the company in a notice to PSX informed, “JSGCL intends to acquire 51% issued and outstanding ordinary shares and control of EFG Hermes Pakistan Limited.”

At the time of writing, the scrip of the company is being traded at Rs200.31, which is up by Rs13.97 or 7.50% DoD.

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