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KARACHI: The board of directors of Awwal Modaraba Management Company has approved the merger with a subsidiary of Pak-Brunei Investment Company Limited (PBICL), a bourse filing said on Thursday.
The company will merge with the corporate restructuring company (CRC), which is to be established by PBICL as its wholly-owned subsidiary, it added.
Awwal Modaraba Management Limited (AMML) is licensed by the registrar Modaraba companies and Modaraba, Securities and Exchange Commission of Pakistan to float and manage multipurpose Modaraba funds.
The company was incorporated in 2014 with an authorised and paidup capital of Rs300 million and Rs105 million, respectively, as a wholly-owned subsidiary of Pak-Brunei Investment Company Limited.
The Pak-Brunei Investment Company is an investment finance company established as a joint venture between the government of Pakistan and the Brunei Investment Agency (BIA) that commenced operations in 2007.
The company has active platforms for project and lease finance, corporate finance and advisory services, SME finance, private equity and fund management.
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