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Local investors eye controlling stake in First IBL Modaraba

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First IBL Modaraba announced on Wednesday that local investors had expressed interest in acquiring a controlling stake in its company.

The company shared the development in a notice to the Pakistan Stock Exchange (PSX) today.

“Discussions regarding the terms and conditions of the potential transaction are currently underway,” the listed company informed the bourse.

First IBL Modaraba is a multi purpose, perpetual and multi dimensional Modaraba formed under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980.

It is engaged in various Islamic modes of financing and operations including Ijarah, Musharaka and Murabaha arrangements

Pakistan Stock Exchange (PSX) PSX notice PSX listed companies First IBL Modaraba

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