Oct 14, 2015

Descon Chemicals Limited considering acquisition of Nimir Industrial Chemicals Limited

Descon Chemicals Limited informed Karachi Stock Exchange about the company that some of the sponsor shareholders of the Company may commence negotiations with Nimir Industrial Chemicals Limited pursuant to the Proposed Acquirer non binding expression of interest to acquire a substantial stake in the company.

Turkey issues LoI to buy strategic stake in Pakistan Stock Exchange

Turkish stock exchange has issued a Letter of Intent (LoI) to the Government of Pakistan for acquiring 40 percent strategic shares in Pakistan Stock Exchange (PSE). Turkey's Borsa Istanbul Anonim Sirketi (BIST) has over 420 listed firms with more than $260 billion market capitalization. BIST's letter came as the country's three stock exchanges in Karachi, Lahore and Islamabad are set to merge into a new integrated national bourse on Thursday (today).

Mansour Al Mosaid Limited Company has acquired 88% shares of National Power Construction Corporation (NPCC)

Mansour Al Mosaid Limited Company has acquired 88% shares in its rival National Power Construction Corporation (NPCC) at a cost of Rs2.5 billion, which is Rs530 million higher than the minimum price set by the government. The divestment of government’s stake in NPCC marks the beginning of strategic sale of state-owned enterprises after a gap of 10 years.
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