MODAM secures agreements for completing LSE Financial Services’ 26% capital

MG News | June 16, 2022 at 11:09 AM GMT+05:00

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June 16, 2022 (MLN): Modaraba Al Mali (PSX: MODAM) has secured agreements for completing 26% share capital of LSE Financial Services Limited, the company filing on PSX showed today.

With the already management control in place, the acquisition shall enable MODAM to treat LSE FSL as a subsidiary and consolidate LSE FSL's accounts in MODAM's financial statements for FY 2022 on a line-by-line basis.

The Modaraba is being repositioned to focus on Venture Capital, Private Equity, and the Rehabilitation of Businesses having potential for revival. Besides, the Modaraba also invests its capital in acquiring, operating, and dealing in real estate assets.

The scrip of MODAM is currently trading at Rs6.45, up by 6 paisa, 0.94% DoD.

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