First Dawood Properties divests over 2.2mn shares in 786 Investments Ltd

First Dawood Properties Limited shared on Thursday that it successfully divested 2,246,070 shares of 786 Investments Ltd.

The company in a notice to the Pakistan Stock Exchange said that the shares were held in the blocked Central Depository Company account to generate coveted cash reserves.

“Now this amount is available to be invested in company’s core business,” it wrote to the bourse.

First Dawood Properties Limited is a public company incorporated in Pakistan under the repealed Companies Ordinance, 1984 (now replaced with the Companies Act, 2017).

The company is primarily engaged in the business of real estate, properties, and/or any other businesses as mentioned in its Memorandum and Articles of Association.