NBP Divests Entire Stake in Agritech Limited

National Bank of Pakistan (PSX: NBP) has divested its stake in Agritech Limited (PSX: AGL). “National Bank of Pakistan (NBP) has divested the entirety of its shareholding in Agritech Limited”, the bank said in a stock filing on Tuesday. The divested stake comprised 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 (allotted/to be allotted as per the Scheme of Arrangement approved by the Lahore High Court). It is to confirm that the divestiture transaction was duly carried out as per the applicable law and regulations, the filing added. The Bank is engaged in providing commercial banking and related services in Pakistan and Overseas. The Bank also handles treasury transactions for the Government of Pakistan (GoP) as an agent to the State Bank of Pakistan. At the time of filing, NBP’s scrip at the bourse was Rs. 69.24, down o.93 percent or Rs. 0.65 with over 2.8 million shares on Tuesday.