The Board of Directors of Askari Bank Limited has resolved to sell 33.5 million shares of Askari Investment Management Limited, constituting 100 percent of the issued and paid up share capital of the said company to Pak Oman Asset Management Company Limited, for an aggregate amount equal to Rs 551.0 million. According to material information sent to Pakistan Stock Exchange (PSX), the sale is subject to the execution of a binding share purchase agreement, obtaining of other corporate and regulatory approvals and completion of legal formalities.

Copyright Business Recorder, 2017