Kingbhai Digisol (Private) Limited, an investee of First National Equities Limited (FNEL), has secured an agreement worth approximately Rs3 billion with Prime Construction Company, one of the country’s leading infrastructure development firms.
FNEL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
“We hereby inform you that Kingbhai Digisol (Private) Limited, an investee of the company, has successfully secured its largest-ever single order amounting to approximately Rs3 billion through an agreement signed with Prime Construction Company, one of Pakistan’s leading infrastructure development firms engaged in national-level projects including construction of roads, highways, bridges, and dams,” read the notice.
Under the said arrangement, Kingbhai Digisol, a technology-enabled B2B supplies provider, will supply construction-related materials and equipment over a period of 12 months.
“This milestone represents a significant operational achievement and marks a notable expansion in the company’s footprint within Pakistan’s industrial supply chain,” said the company
FNEL shared that, as part of its long-term strategic realignment, it intends to gradually divest its shareholding in Kingbhai Digisol to strengthen its liquidity position and accelerate its transition towards the pharmaceutical and healthcare sectors, “which have been identified as the company’s future growth drivers and value creation segments”.
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 share brokerage, consultancy services and portfolio investments.
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