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Local Investment Bank Attracts Offer from Dubai-Based Investor
Invest Capital Investment Bank, a local investment bank, has received an offer from a Dubai-based company to acquire its major stakes comprising 55 percent shareholding.
According to the stock disclosure, the local investment bank said that Dubai Climate Trading LLC approached its management to purchase major shares as negotiations on the potential deal are underway.
The bank will inform the authorities for a prospect deal formally, in case the negotiation is succeeded for sale and purchase of 158 million shares, the official notification further stated.
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The investment banks have been facing a tough business scenario in Pakistan as the majority of these companies are running in losses. Investors from different sectors are looking for acquiring shares in these banks in Pakistan, such as Bahria Town’s acquisition of Escorts Investment Bank a couple of years ago. ....

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