PIM in talks with Official Liquidator to acquire Modaraba

MG News | February 11, 2022 at 05:11 PM GMT+05:00

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February 11, 2022 (MLN): Popular Islamic Modaraba (PIM) has informed through a notice to exchange that the management is in dialog with the Official Liquidator of a Modaraba to acquire that Modaraba.

After the acquisition of that Modaraba the authorized capital of PIM will increase more than Rs400 million and paid-up capital will increase more than Rs200mn and the assets size will also increase accordingly.

The acquisition of Modaraba is subject to finalization of terms and conditions with the Official Liquidator and approval of Securities and Exchange Commission of Pakistan (SECP) and other competent authorities.

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