Karachi, First Prudential Modaraba informed Pakistan Stock Exchange about transaction of shares of the company. 375,000 shares @ Rs. 1.226 per share were bought from the market on March 28, 2019 and 75,000 shares @ Rs. 1.193 per share were bought from the market on March 28, 2019 through CDC.
First Prudential Modaraba was floated in December 1989 as a
perpetual, multipurpose Modaraba with an authorized capital of rupees 100
million. With effect from July 2002, Second Prudential Modaraba and Third
Prudential Modaraba stand amalgamated into First Prudential Modaraba thereby
making it one of the largest capital based multipurpose Modaraba of Pakistan
with a paid up capital of rupees 872.176 million. The objective of the Modaraba
inter-alia include participating in Musharika, Morahaba and providing financial
assistance for working capital need, Ijaraha of all types of assets with
special emphasis on vehicle and industrial machinery, including securitization
of lease portfolio of leasing companies and commercial activities including
syndication and leveraged leasing, underwriting of public issue of shares.
Modaraba’s mission is to create and maintain progressive position in Modaraba
sector in Pakistan endeavor to promote Riba-free economy in the country.
The symbol “PMI” is being used by the stock exchanges for the shares of First Prudential Modaraba.