Pak Brunei Investment Company completes 10% acquisition of KASBM’s Modaraba Certificates

June 16, 2021 (MLN): Pak Brunei Investment Company Limited, the holding company of the Awwal Modaraba Management Limited (AMML), has completed the acquisition of ten percent (10%) of KASBM's issued Modaraba certificates in compliance with the Securities and Exchange Commission of Pakistan’s (SECP) directions, said notification to PSX.

To recall, SECP had transferred the management rights of KASB Modaraba (KASBM) to AMML through competitive bidding on January 31, 2020. One of the conditions for the transfer of management rights of KASBM to AMML is that AMML shall hold and/or acquire a minimum statutory holding of ten percent (10%) of the issued certificate capital of KASBM.

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Posted on: 2021-06-16T15:18:00+05:00