NBP approves full divestment from Agritech Limited

By MG News | October 10, 2024 at 09:27 AM GMT+05:00

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October 10, 2024 (MLN): The Board of Directors of National Bank of Pakistan (PSX: NBP) has approved the divestment of the entirety of NBP's shareholding in Agritech Limited (PSX: AGL).

NBP's total shareholding consists of 106,014,632 ordinary shares, 61,748,756 listed convertible non-voting redeemable cumulative preference shares, and 248,639,910 non-convertible redeemable cumulative preference shares with limited voting rights.

"We confirm that the divestiture transaction will be carried out in accordance with the applicable law and remains subject to the execution of definitive agreements and the procurement of necessary regulatory approvals," the bank said in a statement.

The bank added that subsequent developments in this divestiture transaction will be promptly disclosed to the public as and when required.

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