Bank Al-Habib acquires Habib Asset Management Limited 

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Bank Al Habib Limited on Thursday revealed that it has acquired Habib Asset Management Limited (HAML) after receiving regulatory approvals from the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan, the Competition Commission of Pakistan and the shareholders of the bank in their annual general meeting held on April 14, 2020, informed the bank in a statement to the Pakistan Stock Exchange.

According to the statement, the bank acquired the remaining 70 percent (in addition to its existing 30 percent shareholding) of the issued and paid-up share capital of HAML from its existing shareholders at a price of Rs 7.25 per share, amounting to Rs 152,250,000. As a result of the aforesaid acquisition of shares, HAML has become Bank’s wholly-owned subsidiary, the statement maintained. 

Further, the regulatory and shareholders’ approvals have also been sought for injection of additional equity amounting up to Rs 450,000,000 into HAML so that it can meet the minimum capital requirements prescribed by the SECP and to further support its business operations, the statement concluded.

1 COMMENT

  1. شرم آني چاہئے عمران خان کو جو ایک سے چودھ گریڈ کے ملازمین اور پینشنرز کے اکاؤنٹ کی سیلری میں بھی وہ پچاس یا سورپئے بڑہتے جو خود بینک کے ایس اے میس میں کٹ جاتے تہے وہ بہی یہ بھوکہ وزیراعظم ہر مھینے ہر ایک بینک سی روائینڈ کر رھا ھے لانت ھو ایسی امداد کرنے پر شیم شیم

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