The ownership of MCB changed on Monday, changing hands for 5.49% of the bank’s shares. A completely owned subsidiary of Fullerton Financial Holdings (Singapore) Pte. Ltd., Bugis Investments (Mauritius) Pte Ltd., sold all of its 5.49% ownership in MCB to the bank’s principal backers. On Monday, the day of the transaction, MCB issued the statement on the Pakistan Stock Exchange (PSX).
According to the information provided below, MCB has seen a change in ownership that affects around 5.49% of its voting ordinary shares.
“Bugis Investments (Mauritius) Pte Ltd, a wholly owned subsidiary of Fullerton Financial Holdings Pte Ltd, has transferred and sold all of the 65,020,947 ordinary shares of par value PKR 10/- each held by it in MCB, which are equivalent to 5.49% of MCB’s issued share capital, to seven existing MCB shareholders, comprising three companies and four individuals, namely Nishat Mills Limited (7,111,360 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), Mian Umer Mansha (11,850,600 shares).”
Mian Mohammad Mansha, the founder and chairman of MCB, is married to Mrs. Naz Mansha, and Mian Umer Mansha serves as a director on the board of MCB.
The deal was finished on Monday at a price of PKR 115 per share, totaling PKR 7.48 billion. The current shareholders of MCB have just made their greatest investment yet.
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