Mubasher: Noor Financial Investment has raised its investments in Meezan Bank in Pakistan, using its rights issue priority shares.
The new investment is worth 1.48 billion Pakistani Rupees or KWD 4.24 million, accounting for 6% of the bank’s issued capital, according to a bourse statement issued on Monday.
The impact of this investment will be registered in the income statements of the third quarter of 2017.
Prior to the rights issue, Noor has owned 49.11% stake in Meezan Bank.
At the stock level, Noor closed Monday’s session 0.17% lower at 60 fils.
