The National Bank of Pakistan (PSX: NBP) has announced the divestment of its entire stake in Agritech Limited (PSX: AGL). According to a stock exchange filing on Tuesday, NBP confirmed the sale of its shareholding in Agritech, marking a significant move in its investment portfolio.
The divested stake includes 106,014,632 ordinary shares, 61,748,756 listed, convertible, non-voting, redeemable, cumulative preference shares, and 248,639,905 non-convertible, redeemable, cumulative preference shares with limited voting rights. These shares were allotted or are to be allotted under a Scheme of Arrangement approved by the Lahore High Court.
The bank assured that the divestiture was conducted in compliance with all applicable laws and regulations. NBP continues to provide commercial banking and related services both in Pakistan and overseas, and it also manages treasury transactions for the Government of Pakistan as an agent of the State Bank of Pakistan.
Following the announcement, NBP’s stock was trading at Rs. 69.24, reflecting a decrease of 0.93 percent or Rs. 0.65, with over 2.8 million shares traded on Tuesday
