MCB Bank Limited (MCB) announced on Monday that it has undergone a change of ownership representing approximately 5.49 percent of its voting ordinary shares.
In a notice to the Pakistan Stock Exchange (PSX), the bank said that Bugis Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Fullerton Financial Holdings Pte Ltd, has transferred and sold all of the 65,020,947 ordinary shares of par value Rs. 10 each held by it in MCB.
The shares are equivalent to 5.49 percent of MCB’s issued share capital, to seven existing MCB shareholders, comprising three companies and four individuals, namely, Nishat Mills Limited (7,110,360 shares), Adamjee Insurance Company Limited (4,029,204 shares), Nishat Paper Products Company Limited (3,000,000 shares), Mrs. Ammil Raza (4,842,812 shares), Mian Raza Mansha (12,933,084 shares), Mrs. Naz Mansha (21,254,887 shares), and Mian Umer Mansha (11,850,600 shares), the notice added.
The transaction has been completed today under a set of four Share Purchase Agreements at a purchase price of Rs. 115 per share, or an aggregate consideration of about Rs. 7.48 billion, with and in accordance with the terms of prior approvals granted by the State Bank of Pakistan and the Competition Commission of Pakistan, it said further.
