Corporate announcements on Pakistan Stock Exchange (PSX)
KARACHI: Saudi National Bank (SNB) has approved the commencement of an orderly well managed divestment of Samba Bank Limited (SBL) Pakistan. According to a bourse filing, Samba Bank has received formal communication from SNB that approved a strategic review of…
KARACHI, PAKISTAN: Ghani Global Group will sell around 50 per cent shares in its subsidiary Ghani Chemical Industries Limited (GCIL) through an initial public offering (IPO) at Pakistan Stock Exchange (PSX), to fund Rs8.5 billion ($49.7 million) expansion. The Board…
KARACHI, PAKISTAN: Citi Pharma Limited will establish a wholly owned subsidiary in Uzbekistan with a total estimated cost of $3.0 million, a news release said. Pakistan is catalyzing the stability in Afghanistan to grow trade and investment relations and promote…
KARACHI: Engro Enfrashare, a wholly owned subsidiary of Engro Corporation, has entered into an Islamic syndicate arrangement amounting to Rs4.5 billion, led by Meezan Bank and Faysal Bank. The proceeds raised through this Islamic syndication would be utilized to finance…
KARACHI: Pakistan Telecommunication Company Limited (PTCL) and Ufone signed MoU to launch 2nd batch of Justuju Internship Program in collaboration with Network of Organizations Working with Persons with Disabilities Pakistan (NOWPDP). Justuju includes a structured professional development plan for PWDs,…
KARACHI, PAKISTAN: Pakistan Telecommunications Company Limited (PTCL), signed a Memorandum of Understanding (MoU) with The City School to offer premium ICT services including telephone and high-speed internet to the students, alumni and staff members of the institution. PTCL will offer…
KARACHI: BankIslami, Pakistan’s leading Islamic finance institution, has emerged victorious and won a restitution case in the US as one of the victims of a cybercrime that occurred in 2018. This is a significant achievement not just for the Bank…
KARACHI: Pakistan International Bulk Terminal (PIBT), country’s only fully mechanized bulk terminal, plans an expansion of the terminal’s coal handling capacity to 16 million tons from existing 12 million tons. Presently, PIBT has a coal handling capacity of 12 million…
KARACHI, PAKISTAN: Growth in power demand in K-Electric (KE) service area is expected to remain above 5 per cent and KE expects over 700 MW of new electricity connections in next 2 years, with more than half in the industrial…
KARACHI, PAKISTAN: Indus Motor Company (INDU), the assembler of Toyota vehicles in Pakistan, has announced a whopping $100 million investment in Hybrid Electric Vehicles (HEVs) production over next three years, a bourse filing said on Wednesday. “We are pleased to…
KARACHI, PAKISTAN: InfraZamin Pakistan Limited and ITMinds Limited, a wholly owned subsidiary of Central Depository Company of Pakistan Limited (CDCPL), have signed an agreement enabling ITMinds to provide back office accounting services to InfraZamin, a news release said. InfraZamin is…
KARACHI, PAKISTAN: A Pakistan Petroleum Limited (PPL) led consortium has been awarded Offshore Block 5 in Abu Dhabi’s second competitive exploration block bid round. Offshore Block 5 covers an area of 6,223 square kilometers and is located 100 kilometers north…