Karachi, First National Equities Limited informed Pakistan Stock Exchange that the company has identified a buyer, who is a related party Not applicable Purpose of the sale or disposal of assets The purpose of sale of investment is to widen the scale of company’s investment for expansion of existing operational capacity and investment in other profitable sectors.
Capital Gains are expected to accrue to members and further the utilization of proceeds from this sale will be decided by the company accordingly under the relevant laws and jurisdiction. Time and place for inspection of concerning documents.
The documents relevant to such disclosure can be inspected at the principal office of the company during business hours on a written request to the company before inspection and after the communication of date and time by the Company.
First National Equities Limited was incorporated in February 1995 and enlisted on Pakistan Stock Exchange Limited in 2004 with a trade symbol of ‘FNEL’. The company is engaged in the business of Brokerage, consultancy services and Portfolio Investments.
The shares of the Company are 267,286,331. The Earnings per shares of the Company is 0.43 in 2020 which was 1.86 in 2019. Their Profit after Taxation is 113,881,000 in 2020 which was 497,904,000 in 2019.