Noor Financial Invests divests another 0.28 percent in Meezan Bank

Noor Financial Investment Company has successfully divested 3,026,400 ordinary shares in Meezan Bank Limited constituting a total of 0.28 percent of the total issued and paid up capital of Meezan, read the notice filed on the bourse today.

The notice further mentioned that the “Sale Shares have been acquired by various foreign institutional investors at a purchase price of PKR 70/- per share.”

Earlier on 25th May, 2018 in a filing on the bourse, Noor Financial Investment Company informed the exchange that it “has successfully consummated the disinvestment/sale of 26,447,000 ordinary shares in Meezan Bank, constituting 2.49% of total issued and paid up capital of Meezan to various foreign institutional investors at a purchase price of Rs.70/-share.”

Noor Financial Investment Company (MEBL) on 16th May, 2018 informed the exchange of its intention to divest more than 9.50 percent of its holdings in the Pakistan’s largest shariah-compliant lender and sixth largest bank.