Treasure Magazine

Treasure Magazine

ICIBL receives bid from CGCT Dubai

1 min read
capital
The sponsors of Invest Capital Investment Bank Limited (ICIBL) have received bid intention to acquire 158,448,250 (55.62%)

KARACHI: The M/S Climate Global Control Trading (CGCT) of Dubai offered a bid to acquire Invest Capital Investment Bank Limited (ICIBL) in Pakistan and in this connection the negotiation are on the table.

The ICIBL informed about this deal to the stock exchange through a notice here on Friday. It said, “the sponsors of Invest Capital Investment Bank Limited (ICIBL) have received intention to acquire 158,448,250 (55.62%) shares of Invest Capital Investment Bank Limited along with management control from M/S Climate Global Control Trading based in Dubai.” It further claimed that the purchase price is under negotiation with the acquirer.

In this regard ICIBL has also informed Securities & Exchange Commission of Pakistan (SECP) specialized Companies Division (SCD). Now, the ICIBL will send a formal application to the SECP and State Bank of Pakistan (SBP) for formal their formal approval.