NML approves divestment of 10 percent shareholding in PPP

The board of directors of Nishat Mills Limited (NML) has approved divestment of its 10 percent shareholding in Pakgen Pakgen Power (PPP) (formerly AES Pak Gen Company) through Offer for Sale and listing of the shares on stock exchanges. According to an information sent to Karachi Stock Exchange (KSE), the decision was taken in the board of directors meeting held on Monday.
The Chief Executive of the company has been authorised by the board to decide the offer price per share on the basis of its valuation and advice from advisors/consultants.