Lahore December 12 2022: MCB Bank has undergone a change of ownership representing approximately 5.49% of its voting ordinary shares as per the details provided by the Bank.
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 PKR 10/- each held by it in MCB, which are equivalent to 5.49% 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 transaction has been completed today under a set of four Share Purchase Agreements at a purchase price of PKR 115/- per share, or an aggregate consideration of about PKR 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.
