Karachi January 17 2022: Pakistan Stock Exchange (PSX) seeks clarification from M/s. First IBL Modaraba (FIBLM) regarding substantial increase in price / volume of its certificates during the last three months, for information of all market participants.
First IBL Modaraba price went up 96 percent to PKR 9.8 per share on 20th October 2021 from PKR 5.0 per share on 29th September 2021 before falling to PKR 5.60 as per today’s closing. However, the stock price is still up approximately 86 percent compared to three months ago trading price (14th September 2021), as per data available at Pakistan Stock Exchange.
First IBL Modaraba is a multi purpose, perpetual and multi dimensional Modaraba formed under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980. The Modaraba is managed by IBL Modaraba Management (Private) Limited. It commenced its operations on October 19, 1989 and is currently engaged in various Islamic modes of financing and operations including Ijarah, Musharaka and Murabaha arrangements.