Karachi, In a significant move reflecting its strategic realignment, First Dawood Investment Bank Limited announced its official name change to First Dawood Properties Limited. The transformation was ratified by shareholder approval during the Annual General Meeting on October 2, 2023, and has been formalized with the issuance of a Certificate of Incorporation on Change of Name by the Securities and Exchange Commission of Pakistan (SECP).

The change, effective from February 29, 2024, marks a pivotal transition for the company, previously known for its investment banking operations. The company's registered office, located on the 19th Floor, Tower-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi remains the hub of its operations. In compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited (PSX), the company has disclosed this significant material information to the TRE Certificate Holders of the Exchange.

The disclosure ensures transparency and compliance with regulatory requirements, signaling the company's commitment to its shareholders and the broader investment community. The rebranding to First Dawood Properties Limited, accompanied by the phrase "Formerly First Dawood Investment Bank Limited" in parentheses, aligns with section 13 of the Companies Act, 2017, and reflects the company's strategic shift towards property-related ventures.

This name change represents a strategic pivot for the entity, aligning its corporate identity with its future direction and growth in the real estate sector. The Securities and Exchange Commission of Pakistan's issuance of the new Certificate of Incorporation on Change of Name certifies this significant corporate evolution.