AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Aga Khan Fund for Economic Development (AKFED) has informed Habib Bank Limited (HBL) of its intention to acquire additional shares of HBL from the open market. AKFED intends to use the accumulated dividends that have not been repatriated, amounting to PKR 3,534,747,825, for the purchase of shares.
HBL has been informed of this material information on May 01, 2023. The purchase of HBL shares by AKFED shall be in accordance with applicable regulatory approvals. The acquisition of additional shares by AKFED is expected to enhance its position as a significant shareholder in HBL, a leading bank in Pakistan.
The purchase of shares by AKFED is a significant development for HBL and its shareholders. It reflects the confidence of AKFED in the bank’s future growth prospects and its commitment to support HBL’s strategic objectives. Overall, this material information is expected to enhance the investors’ confidence in HBL and its future prospects.