NBP Divests Entire Stake in Agritech Limited
The National Bank of Pakistan (PSX: NBP) has successfully divested its entire stake in Agritech Limited (PSX: AGL), according to a stock filing released on Tuesday.
The divested stake includes 106,014,632 ordinary shares, 61,748,756 listed/convertible/non-voting/redeemable/cumulative preference shares, and 248,639,905 non-convertible/redeemable/cumulative preference shares with limited voting rights, as per the Scheme of Arrangement approved by the Lahore High Court.
The bank confirmed that the divestiture transaction was executed in compliance with all applicable laws and regulations.
National Bank of Pakistan provides a range of commercial banking and related services both domestically and internationally. Additionally, the bank manages treasury transactions for the Government of Pakistan (GoP) as an agent of the State Bank of Pakistan.
At the time of the announcement, NBP’s stock was trading at Rs. 69.24, reflecting a decrease of 0.93 percent or Rs. 0.65, with over 2.8 million shares exchanged on Tuesday.
