The board of directors (BoD) at Arif Habib Limited has decided to sell out 100 percent stake of its subsidiary Arif Habib 1857 Pvt. Limited.
According to the notification issued to PSX, the board has resolved to disinvest 100 percent shareholding of Arif Habib 1857 Pvt Ltd, a wholly-owned subsidiary of Arif Habib Limited, for total consideration of Rs. 50 million, i.e. Rs. 10 per share.
The transaction is subject to obtaining necessary corporate and regulatory approvals.
Arif Habib 1857 Pvt. Ltd. offers brokerage and corporate finance services to a large number of institutional, corporate, high net worth individuals and retail clients. It is a listed company with 100 percent ownership by Arif Habib Limited.
Arif Habib Limited (AHL) is one of the largest securities brokerages, investment banking, and research firm on the Pakistan Stock Exchange. It is the only brokerage firm included in the Top 25 Companies of the Pakistan Stock Exchange.
AHL is part of the Arif Habib Corporation, which is one of the leading business groups in Pakistan. The company has an extensive and diversified portfolio across all major business sectors, including fertilizer, financial services, construction materials, industrial metals, dairy farming, and energy.
