KARACHI: Pakistan Stock Exchange (PSX) has presented important budgetary proposals for 2021-22 to boost economic growth and address key structural imbalances in Pakistan’s economy. The stock market is one of the most documented sectors of the economy. All capital market participants are fully documented; hence developing the capital markets is fully aligned with FBR’s efforts…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
Wyeth LCC to buy all outstanding share of Wyeth Pakistan
KARACHI: Wyeth LLC is considering purchasing outstanding securities and shares presently listed at Pakistan Stock Exchange (PSX) of Wyeth Pakistan Limited, which would result in delisting of Wyeth Pakistan from PSX, a bourse filing said. Wyeth LLC holds 40.55 percent stake in Wyeth Pakistan. At the trading on Tuesday, the Wyeth share jumped by Rs89.59…
NRL offers government to develop and implement Tanjeel and Rekodiq reserves in Baluchistan
QUETTA: Balochistan Mineral Exploration Company (BMEC) – a JV of Government of Balochistan (90%) and Government of Pakistan (10%) and the concession holder of EL199 (consisting of Rekodiq & Tanjeel reserves) – has received a proposal from the National Resources Private Limited (NRL) on unsolicited basis to develop and implement the Tanjeel reserves as a…
Gul Ahmed to spin out its retail business ‘Ideas’ through an IPO
KARACHI: Gul Ahmed Textile Mills Limited is spinning out its retail segment, Ideas, to enable it to be a 100% owned subsidiary. “Gul Ahmed is aiming for its Initial Public Offering (IPO) between November 2021 and March 2022 depending on the market conditions,” company management said. Gul Ahmed Textile Mills held its analyst briefing to…
Pakistan Stock Exchange appoints first woman chairperson, Shamshad Akhtar
KARACHI: For the first time in the 73 year history of Pakistan Stock Exchange (PSX), a woman Chairperson has been elected on the Board of Directors. In the first meeting of the newly elected PSX Board held today, Dr. Shamshad Akhtar has been unanimously elected as the PSX Board Chairperson. This is a momentous occasion…
Meezan Bank to advise EXIM Bank on providing Shariah-compliant consulting services
KARACHI: Meezan Bank has recently signed an agreement with Export-Import (EXIM) Bank of Pakistan to act as its consultant for developing Islamic Trade Finance, Takaful Insurance / Guarantee Products and Services for Corporate and SME (Small Medium Enterprises) Exporters under a Technical Assistance Grant provided by Islamic Development Bank (IsDB). The grant will support the…
Honda Atlas Cars re-appoints CEO and Chairman
KARACHI: Honda Atlas Cars has re-appointed Hironobu Yoshimura as the President and Chief Executive Officer of the company for a period of three years commencing May 02, 2021. The Board of Directors of Honda Atlas Cars re-appointed Aamir H. Shirazi as the Chairman of the company for a period of three years commencing May 02,…
PSO, PARCO and PAPCO to jointly install 20-km fuel transportation line between Karachi and Port Qasim
Pakistan State Oil (PSO), Pak Arab Refinery Limited (PARCO) and Pak Arab Pipeline Company (PAPCO) will jointly develop a 20-km pipeline link between Karachi port and Port Qasim for fuel transportation
Supernet Limited plans listing of its shares on Pakistan Stock Exchange
KARACHI: Supernet Limited, a wholly owned subsidiary of Telecard Limited, is exploring the option of listing its shares on Pakistan Stock Exchange (PSX) through an initial public offering, a bourse filing said. Telecard is actively looking towards enhancing its footprint in technology sector and feels confident that it will do so in coming months while…
Thal Limited to setup polypropylene woven bags plant with an investment of Rs1.7 billion
KARACHI: Thal Limited, a subsidiary of House of Habib, is setting up a plant to manufacture polypropylene woven bags in Hub with an investment of Rs. 1.7 billion. Mr. Salman Burney Vice Chairman House of Habib performed the ground breaking recently for the plant at the factory of Thal limited located in Hub, and it…
Bank Alfalah joins the race for Silkbank’s consumer portfolio
KARACHI: Bank Alfalah Limited (BAFL) has approached Silkbank Limited seeking its concurrence to BAFL to apply to State Bank of Pakistan to proceed with the due diligence for the consumer portfolio of Silkbank Limited. Silkbank Limited has already accorded in-principle approval to Habib Bank Limited (HBL) to conduct due diligence for the same. Fauji Foundation…
Packages Limited announces Rs2.8 billion expansion by a subsidiary
KARACHI: Packages Limited has announced Rs2.8 billion capital expenditure investment plans by Bulleh Shah Packaging, a 100% wholly owned subsidiary of Packages Limited. “Bulleh Shah Packaging (BSPL) has informed the company through its letter dated April 20, 2021 that the Board of Directors of BSPL, in its meeting held on April 16, 2021, has approved…