Karachi: National Bank of Pakistan (NBP) has completed the divestiture of its entire shareholding in Agritech Limited, as revealed in a recent communication to the Pakistan Stock Exchange Limited. This transaction, executed in October 2024, marks a significant shift in NBP's asset portfolio.

According to information available from the Pakistan Stock Exchange (PSX), the divested assets include 106.00 million ordinary shares, 61.75 million listed, convertible, non-voting, redeemable, and cumulative preference shares, and 248.64 million non-convertible, redeemable, cumulative preference shares with limited voting rights. These shares were previously designated under a Scheme of Arrangement approved by the Lahore High Court.

The divestiture aligns with the regulatory compliance requirements outlined under Sections 96 and 131 of the Securities Act 2015 and Rule 5.6.1 of the Pakistan Stock Exchange Regulations. The transaction adheres to the legal and regulatory frameworks, ensuring that all proceedings were carried out lawfully.