First Capital Equities in talks with creditors to settle dues

First Capital Equities Limited said on Monday that it was in process of negotiations with secured creditors/financial institutions for settlement of its overdue financial obligations on some favorable terms.

This was shared by the company in a notice to the Pakistan Stock Exchange (PSX) today.

The company is also considering various strategic options as part of its future business plan, including real estate projects, the notice read.

“As soon as the settlement is done with financial institutions the Company will implement its revised business plans.

Further, the Company will keep update PSX and make necessary disclosures in compliance with law.’’

First Capital Equities Limited was incorporated in Pakistan on January 26, 1995 as a private limited company.

The principal activity of the company is to acquire, construct, develop, sell, rent out and manage shops, apartments, villas and commercial buildings.