Zahidjee Textile Mills submits SOQ for the purchase of SME Bank Ltd

MG News | February 14, 2020 at 12:12 PM GMT+05:00

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February 14, 2020 (MLN): Zahidjee Textile Mills Limited has submitted the Statement of Qualification (SOQ) to Privatization Commission for the purchase of SME Bank Limited.

The aforesaid development ensued after the Privatization Commission requested the company to submit an SOQ in respect of the proposed transaction.

It is imperative to note here that the Privatization Commission, back in December, had advertised the privatization of SME bank Limited via Sale of 93.88% shares there into strategic buyer.

Accordingly, Zahidjee Textile Mills Limited submitted an expression of interest to the Commission on January 21, 2020.

Besides Zahidjee Textile Mills, MCB Limited has also submitted an expression of interest to the Commission, and is therefore in the running for the purchase of SME Bank Limited.

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