Asian Stock Fund Limited was acquired by Ferozuddin A. Cassim and Durain F. Cassim in an off-market transaction on 12 May 2011 at PKR 4.60 per share. The respected parties acquired 7,000,000 and 7,048,000 shares each respectively which equates to a combined holding of 40.11% shares in ASFL.
The original notices posted on the Karachi Stock Exchange can be visited by following the source link below.
Source: KSE Notice
Note: This is the second deal in the asset management industry since I posted in Feb 2011 an analyses on why Pakistan's mutual fund industry will witness M&A this year. The post can be reviewed by clicking here.
