Money, Finance and Banking Blog in Pakistan
Investment Banking
IGI Investment Bank Launches Wealth Management Services
Jan 17th
IGI Investment Bank Limited, part of the IGI Financial Services Group, has recently launched a comprehensive suite of Wealth Management services specifically designed for the needs of its high net-worth clients.
Individuals looking to invest will now have access to the resources and expertise of a financial group involved in businesses ranging from Investment Banking, Securities Brokerage, Insurance, Asset Management, etc., to provide them the best set of investment solutions from across the industry.
Investors will be assigned a Personal Wealth Manager, and a highly experienced Investment Committee which will oversee and review investment strategies that are carefully modified to meet the More >
Al-Zamin Leasing to Merge into Invest Capital Investment Bank
Jul 1st
The board of directors of Al-Zamin Leasing Corporation Limited has decided to merge with Al-Zamin Leasing Modaraba and amalgamate both with Invest Capital Investment Bank Limited, reports Business Recorder.
On the other hand, according to The News, the board of directors of Invest Capital Investment Bank Limited has also approved the subject merger.
The swap ratio is in proportion of to 2.6 shares of Investment Capital Investment Bank for every one certificate of Al Zamin Leasing Modaraba.
The merger, however, is subject to the approval of shareholders and the regulator, according to a bank notification sent to KSE on Friday.
The proposed merger entity More >
House Building Finance Corporation Files Suit Against First Dawood Investment Bank
Jun 27th
House Building Finance Corporation Limited (HBFCL) has filed a suit in Sindh High Court against First Dawood Investment Bank Limited (FDIBL), seeking the recovery of Rs78.737 million pending dues.
HBFCL had placed Rs75 million (finance facility) with FDIBL on Sept 11, 2008 for a period of 94 days through broker AMZ Securities (Pvt) in pursuance of FDIBL’s letter dated same day.
However, FDIBL has failed to repay the principal amount of finance facility along with accrued profit and has requested to restructure the facility on its terms, unilaterally, according to the petition.
The petition said the terms given by First Dawood Investment were More >
Orix Investment Bank and Orix Leasing Pakistan Announce Merger
Jun 26th
Boards of directors of Orix Investment Bank Limited (OIBL) and Orix Leasing Pakistan Limited (OLPL) have announced merger of the two companies after passing a resolution.
The swap ratio set by the management is 43 shares of Orix Investment Bank Limited against 1 share of Orix Leasing Pakistan Limited.
Orix Leasing to Merge with Orix Investment Bank
Jun 12th
A news item tells that the Board of Directors of Orix Leasing Pakistan Limited (OLP) has proposed amalgamation of Orix Investment Bank Pakistan (OIB) with OLP. The board proposed the swap ratio of 43:1, whereby one ordinary share of Rs10 each of OLP will be allotted against 43 shares of OIB.
Orix Leasing Pakistan has convened an extra-ordinary general meeting on June 29, 2009, to discuss this matter.
ORIX Investment Bank Pakistan Limited (OIB) is a joint venture among ORIX Corporation, Japan, ORIX Leasing Pakistan Limited, International Finance Corporation, Asian Finance & Investment Corporation (an affiliate of Asian Development Bank) and three major financial institutions More >
