LSEPL, MODAM dissolves after successful merger

MG News | May 23, 2024 at 11:57 AM GMT+05:00

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May 23, 2024 (MLN): LSE Proptech Limited (LSEPL) and Modaraba Al Mali (MODAM) have been dissolved upon the completion of their merger/amalgamation through the approved scheme.

Filings of LSEPL and MODAM on the Pakistan Stock Exchange (PSX) showed on Thursday.

This occurred after the issuance of shares of LSE Capital Limited (LSECAP) to the registered members of MODAM and LSEPL.

To recall, the Lahore High Court earlier approved the full merger of MODAM and LSEPL into LSECAP.

Accordingly, LSE Capital Limited and LSE Financial Services Limited will be listed at the Pakistan Stock Exchange Limited (PSX) as per the approved scheme.

The opening price for both LSECAP shares and LSEFSL shares will be Rs10 per share (i.e., face value).

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