Cordoba Logistics & Ventures Limited (PSX: CLVL) announced on Friday that the Securities and Exchange Commission of Pakistan (SECP) has granted permission for the company to establish a Non-Banking Finance Company (NBFC) under the name Cordoba PE Management Limited.

The newly formed NBFC will focus on providing Private Equity and Venture Capital Fund Management Services, contingent upon compliance with the regulatory requirements outlined in the Permission Order and applicable laws, as stated in a notice to the Pakistan Stock Exchange (PSX).

Incorporated in Pakistan on December 1, 1986, as a Public Limited Company under the Companies Ordinance of 1984, CLVL is primarily engaged in logistics and various other ventures. The establishment of the NBFC marks a significant expansion of the company’s operations into the financial services sector.