Birla Tyres Ltd Q1FY22 loss at Rs 60 12 crores equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
KARACHI: Fauji Foundation (FF) has expressed interest in acquiring the majority stake in Silkbank Limited, the bank said in a regulatory filing with the Pakistan Stock Exchange on Thursday.
As part of the process, Silkbank had been requested to allow FF to conduct due diligence of the bank. In this regard, FF intended to apply to the State Bank of Pakistan (SBP) for the requisite approval. Silkbank said that in a meeting on Jan 28, its Board subject to the approval of SBP had given its in-principle approval to allow FF to conduct the required due diligence and evaluate the information that would be provided by the bank.
Panther Tyres raises Rs2.63b in IPO
Financing will be utilised for expansion of its tyre, tube manufacturing capacity
10 of 20 funds outperformed benchmark 100 index. PHOTO: FILE
Panther Tyres Limited raised funds worth Rs2.63 billion through auction of 40 million shares to institutional, rich individual and retail investors at the Pakistan Stock Exchange (PSX) on Thursday.
The financing will be utilised for expansion of its tyre and tube manufacturing capacity.
The company got a share price of Rs65.8 each during the two-day (Jan 27-28) bidding process, which is better known as book building. The company made a new record during the auction as it sold shares at the upper limit. As per details, the company opened bidding at Rs47 per share, which could increase by a maximum of 40% to the upper limit of Rs65.8 in accordance with the prevailing laws.