KARACHI: Bugis Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Fullerton Financial Holdings Pte Ltd has transferred and sold all the 65,020,947 ordinary shares held by it in MCB, equivalent to 5.49 percent of MCB’s issued share capital, to seven existing MCB shareholders, comprising three companies and four individuals.

These shares were sold to Nishat Mills Limited (7,110,360 shares), Adamjee Insurance Company Limited (4,029,204 shares), Nishat Paper Products Company Limited (3,000,000 shares), Mrs. Ammil Raza (4,842,812 shares), Mian Raza Mansha (12,933,084 shares), Mrs. Naz Mansha (21,254,887 shares), and Mian Umer Mansha (11,850,600 shares) at a price of Rs115/share.

According to material information sent to Pakistan Stock Exchange the transaction has been completed on Monday under a set of four Share Purchase Agreements at a purchase price of Rs 115.00 per share, or an aggregate consideration of about Rs 7.48 billion, with and in accordance with the terms of prior approvals granted by the State Bank of Pakistan and the Competition Commission of Pakistan.