MCB Bank Limited to sell off its financial services arm

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KARACHI: MCB Bank Limited has decided to ‘dispose’ off its wholly owned subsidiary MCB Financial Services Limited (MCBFSL) to ISE Towers REIT Management Company Limited, the bank said in a notice sent to the Pakistan Stock Exchange (PSX) on Tuesday.

The sale has been done through a ‘Share Purchase Agreement’ for a total consideration of Rs89,459,258 at a value of Rs32.53 per share, the notice to the PSX read.

MCBFSL is the second largest collective investment scheme trustee in the country with a total of 31 funds under their trusteeship & and having custody of 31 custody clients, the company claims on its website.

2 COMMENTS

  1. Compliments to the Board/Management ISE Towers Management ISE Towers Company Ltd., Islamabad Owning the 2nd largest collective investment scheme trustee in Pakistan.
    This will enhance the trusteeship with Custodial Services of MCBFSL which would enhance the role of REIT towards Digatlised Pakistan. Best wishes,

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