Lahore: The First Prudential Modaraba, a prominent player in the modaraba sector, has received formal approval from the Securities and Exchange Commission of Pakistan (SECP) to relocate its head office from Karachi to Lahore. The development was confirmed in a communication dated March 26, 2025, following the SECP’s issuance of a no-objection certificate.

According to the notification, the SECP’s Registrar Modaraba Companies and Modarabas sanctioned the move, as outlined in their letter No: SC/M/RS/Prudential/36/2025/137, dated March 25, 2025. The decision marks a significant shift for the First Prudential Modaraba’s operational base, which will now be situated at Office No. 818, 8th Floor, Hi-Q Tower, Jail Road, Lahore. The relocation process is part of a strategic realignment within the organization.

The First Prudential Modaraba communicated the change to its stakeholders via a letter dated March 07, 2025, bearing reference number PMI/PSX/2025. This letter preemptively notified the Pakistan Stock Exchange (PSX) and other relevant parties of the intended move.

The change of location is anticipated to impact the modaraba’s business operations and interactions with the market. According to information available from the Pakistan Stock Exchange (PSX), the First Prudential Modaraba’s decision to shift its headquarters aligns with its broader strategic objectives and could influence market dynamics within the designated market category.

The relocation to Lahore is expected to enhance the organization’s access to key business networks and resources in the region. Stakeholders, including TRE Certificate Holders, have been advised to update their records accordingly and direct all future correspondence and engagements to the new Lahore office.