LAHORE: In a notification issued to the Pakistan Stock Exchange here on Monday, Meezan Bank disclosed that Noor Financial Investment Company had sold/divested ordinary shares in the bank.
The notification sent to the PSX General Manager said, “Noor Financial Investment Company has successfully consummated the divestment/sale of 9,000,000 ordinary shares in Meezan, constituting a total of 0.85 per cent of the total issued and paid-up capital of Meezan (Sale Shares) pursuant to which the Sale Shares have been acquired by various foreign institutional investors (Buyers) at a purchase price of Rs78 per share.”
Meezan is Pakistan’s biggest Islamic bank with a retail banking network of more than 600 branches in more than 150 cities of the country.
Noor Financial Investment Company – KPSC engages in the investment and financial activities in Kuwait, the Middle East, Asia, and internationally. It operates through four segments: Investments, Real Estate, IT Services, and Hotel Operations.
Previously in June, according to a notice filed on the exchange, Meezan Bank Limited announced that Noor Financial Investment divested 3.4 per cent in Meezan Bank.
Meezan Bank’s shares were trading at Rs90.44 as on Monday, August 13.
