Wednesday, October 26, 2011

Xenel International sold 140 million shares (12%) in Pakistan's largest independent power producer (IPP), Hubco.

The deal of 140 million shares of Hub Power Company (Hubco), owned by Xenel International, has been executed, and the Pakistan equity market on Tuesday witnessed a massive singly-day outflow of $60.36 million of foreign investors portfolio investment, market sources said.
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Tuesday, October 25, 2011

Auriga Group acquires 82% of Network Microfinance Bank

KARACHI:A Lahore-based group of investors has decided to buyback 9% shares of Network Microfinance Bank from the public, according to a notice sent to the Karachi Stock Exchange on Friday.

The group already has a share purchase agreement with majority shareholders Jahangir Siddiqui and Company and KASB Bank to buy 82% shares of the microfinance bank. The transaction is expected to be around Rs166 million as Rs6.75 was paid per share for 24,604,382 shares.
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