Karachi, Meezan Bank Limitedinformed Pakistan Stock Exchange that Noor Financial Investment Company has successfully consummated the divestment/sale of 26,447,000 ordinary shares in Bank, constituting a total of 2.49% of the total issued and paid up capital of Bank pursuant to which the Sale Shares have been acquired by various foreign institutional investors at a purchase price of PKR 70/- per share.
Meezan Bank Limited was incorporated in Pakistan on January 27, 1997, as a public limited company under the Companies Ordinance, 1984. The bank carried on the business of investment banking from July 13, 1987 and was registered as an ‘Investment Finance Company’ on August 8, 1997 in accordance and in conformity with the principles of Islamic Shariah. Certificate of Commencement of Business was issued to the Bank on September 29, 1997. The bank commenced operations as a Scheduled Islamic Commercial Bank from March 20, 2002. The stocks of the bank are quoted on the Karachi Stock Exchange of Pakistan. Its registered office is located at Karachi.
The bank is engaged in corporate, commercial, consumer, investment and retail banking activities. The bank was operating through three hundred and ten branches as at December 31, 2012.
The symbol “MEBL” is being used by the stock exchanges for the shares of Meezan Bank Limited.