UDL divests 4.7% stake in International Brands to Universal Ventures

By MG News | May 02, 2023 at 09:51 AM GMT+05:00

0:00

May 02, 2023 (MLN): The Board of Directors (BoD) United Distributors Pakistan Limited (PSX: UDL) on Friday approved the divestment of equity shares of International Brands (Private) Limited (i.e. 110.79 million shares constituting approximately 4.7% held by the company to Universal Ventures (Private) Limited.

Further, the board has authorized the Chief Executive Officer (CEO) and Board Investment Committee Chairman of the company to carry out the valuation, negotiation, and finalizing of the terms of the transaction along with the preparation of necessary documents for the consideration of the board.

The aforesaid information was disseminated through the notification to exchange today.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	130,454.49 294.11M	1.76% 2255.06
ALLSHR	81,069.05 860.45M	1.61% 1281.43
KSE30	39,945.14 121.34M	2.15% 840.14
KMI30	189,553.60 125.83M	1.41% 2637.99
KMIALLSHR	54,770.66 418.26M	1.05% 568.78
BKTi	35,052.93 47.67M	4.71% 1576.25
OGTi	28,235.71 11.36M	0.98% 273.13

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,170.00	108,340.00 105,440.00	2420.00 2.29%
BRENT CRUDE	67.55	67.59 66.94	0.44 0.66%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	103.80	0.00 0.00	-3.70 -3.44%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.85	65.87 65.23	0.40 0.61%
SUGAR #11 WORLD	15.91	15.95 15.77	0.21 1.34%