First National Equities Limited’s (FNEL) board has approved a divestment from Kingbhai Digisol (Private) Limited, expansion in real estate, and entry into the pharmaceutical sector, according to a notice filed with the Pakistan Stock Exchange (PSX) on Monday.
FNEL has entered an agreement to sell its 20% equity stake in Kingbhai Digisol (Private) Limited, comprising 10,000 Class-B non-voting shares, for a total consideration of PKR 280 million. The transaction reflects a robust valuation, with the enterprise value of Kingbhai Digisol independently assessed at approximately PKR 1.5 billion.
The company said that the divestment is part of its strategy to unlock value and reallocate capital toward higher-growth opportunities.
In addition, the board approved an investment of up to PKR 400 million in its subsidiary, FNE Developments (Private) Limited. This investment, which may take the form of equity subscription, loans, advances, or other financial instruments, is aimed at accelerating growth in real estate and infrastructure projects with strong recurring revenue potential.
The company also plans to enter the pharmaceutical sector, with an authorized investment of up to PKR 500 million. This could involve establishing or acquiring a manufacturing facility or company, either directly or in collaboration with subsidiaries or associated undertakings.
The move is intended to diversify FNEL’s portfolio and tap into one of Pakistan’s high-growth industries.
All decisions are subject to approval by shareholders and regulatory authorities, where applicable.
