Karachi: First National Equities Limited (FNEL) has announced a series of strategic decisions approved by its Board of Directors, as part of its ongoing efforts to optimize capital allocation and explore new growth avenues. The announcement was made in compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book of the Pakistan Stock Exchange Limited.
The company revealed its decision to divest a 20% equity stake, comprising 10,000 Class-B non-voting shares, in Kingbhai Digisol (Private) Limited for PKR 280 million. This transaction aligns with FNEL’s strategy to unlock value and focus on high-growth ventures. The enterprise value of Kingbhai Digisol was assessed at approximately PKR 1.5 billion.
In addition, the Board approved an investment of up to PKR 400 million in FNE Developments (Private) Limited, a subsidiary focused on real estate and infrastructure development. The investment will be made through equity subscription, loans, advances, or other financial instruments. This decision underscores FNEL’s commitment to accelerating growth in sectors with strong revenue potential.
Furthermore, FNEL is set to make a significant entry into the pharmaceutical sector with an authorized investment of up to PKR 500 million. This venture will involve establishing or acquiring a manufacturing facility or company, potentially in collaboration with subsidiaries or associated undertakings. The move is part of FNEL’s diversification strategy into one of Pakistan’s high-growth industries.
According to information available from the Pakistan Stock Exchange (PSX), these strategic decisions are subject to shareholders’ and Regulatory Authorities’ approvals, where applicable, as FNEL positions itself for future expansion and diversification.