MODAM enters into arrangement with DBSL to implement Revival Business Plan

MG News | May 31, 2022 at 12:55 PM GMT+05:00

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May 31, 2022 (MLN): Modarba Al-Mali (PSX: MODAM) has made arrangements with Dadabhoy Sack Limited (DBSL) to increase its authorized capital to Rs2 billion while implementing the Revival Business Plan.

MODAM is a specialized Islamic vehicle focusing on Islamic Venture Capital/Private Equity and Restructuring/Rehabilitation of companies having potential for revival.

Further to the above development, DBSL shall change the name of the company to the proposed name of Online Shopping Limited to represent its revised/intended business activities under the guidance, advice, and assistance of the MODAM.

To note, MODAM is targeting to complete the revival of DBSL by end of December 31, 2022, under the “Revival Business Plan”.

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