The transaction was arranged and structured by Faysal Bank Limited as lead adviser and arranger while Elixir Securities Limited acted as the co-adviser.
The group is engaged in manufacturing, financial services, insurance and trading with total equity of Rs 20 billion and asset base of Rs 50 billion.
Atlas Investment Bank Limited, listed on all three stock exchanges, was established in 1990, originally as a joint venture of Atlas group, the Bank of Tokyo-Mitsubishi and the Asian Development Bank.
Atlas group is the majority stakeholder in Atlas Investment Bank followed by National Investment Trust. The bank deals in lease and term financing, investments, equity and money market brokerage, advisory services and asset management. It is the largest investment bank with equity of Rs 1 billion, lease and term finance portfolio of Rs 5 billion and total assets of Rs 10 billion. It has been assigned a credit rating of ''A+'' by Pacra.
Dawood Bank Limited commenced operations in March 2004 after Dawood group entered into a joint venture agreement with the Bank of Ceylon (BOC), Pakistan operations to amalgamate business of BOC into a banking company.
Dawood Bank Limited has a network of 11 branches with equity of Rs 1.5 billion and total assets of Rs 7 billion.-PR