First Punjab Modaraba Sells Wholly Owned Subsidiary Punjab Capital Securities to The Bank of Punjab

Karachi, First Punjab Modaraba has recently concluded a significant transaction involving the sale of its wholly owned subsidiary, Punjab Capital Securities (Pvt.) Limited. The transaction, carried out in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6. (a) of PSX Regulations, saw the subsidiary being acquired by The Bank of Punjab, the parent bank of First Punjab Modaraba. The sale was finalized at a price of Rs. 85.487 million, reflecting the value of the subsidiary and its assets.

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