First National Equities Limited (FNEL) announced on Friday that FNE Developments (Private) Limited, a subsidiary of the company had commenced operations.
The company informed this in a notice to the Pakistan Stock Exchange (PSX) today.
“This strategic step marks FNEL’s formal entry, through its subsidiary, into Pakistan’s infrastructure and real estate development sectors,” the company wrote.
It added that the subsidiary was established to undertake large-scale projects in collaboration with leading stakeholders across the public and private sectors.
“This expansion will diversify FNEL’s business portfolio and also unlock new avenues of growth, positioning the company at the forefront of value creation in one of Pakistan’s largest sectors,” the listed company added.
First National Equities Limited is a limited liability company incorporated in Pakistan under the Companies Ordinance , 1984 (now the Companies Act, 2017).
The principal activities of the company include shares brokerage, consultancy services and portfolio investments.
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