PSX intends to acquire 3mn shares in CDC from ABL

MG News | July 22, 2022 at 09:33 AM GMT+05:00

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July 22, 2022 (MLN): Pakistan Stock Exchange Limited (PSX) intends to acquire three million ordinary shares in the Central Depository Company of Pakistan Limited (CDC), from Allied Bank Limited (ABL), a shareholder of CDC, at a price of Rs25/- per share, amounting in aggregate to Rs75mn, the bourse notified on Friday.

Accordingly, in line with the approval of PSX's Board of Directors, PSX has executed a shares purchase agreement with ABL for acquiring shares in CDC as an equity investment of Rs75mn which is subject to the consent of PSX's shareholders.

In this connection, PSX will call an Extraordinary General Meeting (EGM) to seek approval of the shareholders for the said transaction in due course of time, and the notice of EGM will accordingly be circulated to the shareholders within the stipulated timeframe.

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