Karachi, Awwal Modaraba Management Limited informed Pakistan Stock Exchange that to acquire by purchase, lease or otherwise land, buildings and property or any interest, in the same and to build, erect, improve and construct houses, buildings of every description, and to sell, lease, let to otherwise dispose-off the same for cash or on deferred payment basis on its own or in collaboration with other individuals, companies and modarabas through forming joint ventures, limited liability companies, and / or any other legal corporate structure.
Awwal Modaraba Management Limited (AMML) is licensed by the Registrar of Modarabas, Securities and Exchange Commission of Pakistan to float and manage multipurpose Modaraba Funds. The Company was incorporated on June 5, 2014 with an authorized and paid-up capital of PKR 300 million and PKR 105 million, respectively, as a wholly owned subsidiary of Pak Brunei Investment Company Limited (“Pak Brunei”).
The establishment of a Modaraba Management Company (MMC) is expected to translate into significant financial benefits for its shareholders and investors in the Modaraba funds.
The symbol “AWWAL” is being used by the stock exchange for the Awwal Modaraba Management Limited.