Faysal Bank sells 1.5 million shares

Faysal Bank Limited has sold 1,500,000 shares (0.88 percent shareholding) owned by it in Khushhali Bank Limited in line with UBL Consortium's bid of Rs 20.44 (approximately) per share and in accordance with regulatory approvals. According to an information sent to Karachi Stock Exchange on Monday, Faysal Bank Limited had entered into and executed a Share Purchase Agreement with United Bank Limited Consortium.
The United Bank Limited consortium comprises United Bank Limited, ASN-NOVIB Microkredietfonds, respons Ability Global Microfinance Fund, Rural Impulse Fund II S.A. SICAV-FIS and ShoreCap II Limited. "In terms of the Agreement, the Company has sold 1,500,000 shares (0.88 percent shareholding) owned by it in Khushhali Bank Limited (KBL) in line with UBL Consortium's bid of Rs 20.44 (approximately) per share and in accordance with regulatory approvals", it said.