First National Equities Ltd (FNEL) has signalled a strategic turn that could reshape its earnings profile and risk mix. In a notice to the Pakistan Stock Exchange on 6 November, the brokerage said its board had granted in‑principle approval to acquire 100% of Albert Pharma (Pvt) Ltd, subject to customary conditions including due diligence, execution of definitive agreements, and regulatory clearances. The same disclosure directed management to prepare a Sharia‑compliant business and financial plan in line with PSX and SECP rules, reflecting a wider intent to broaden beyond stockbroking into pharmaceuticals, healthcare and allied sectors.
FNEL framed the decision as “material information” emerging from an emergent board meeting, and placed it squarely within a multi‑year plan to diversify revenue sources. The company emphasised that the deal remains contingent on standard approvals – and on the board’s satisfaction with the resulting business plan – yet the notice carried an unusual level of specificity for an early‑stage move: a full takeover of Albert Pharma and an explicit mandate to prepare for regulatory transition. The letter also underscored compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Rule Book, a familiar legal scaffolding for transactions of this type. In short, FNEL is not merely testing the waters of pharma distribution; it is preparing to own and operate a manufacturer. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
