First National Equities Limited (PSX: FNEL) Monday announced a number of new initiative in a notice to the Pakistan Stock Exchange (PSX).
The firm said its Board of Directors has also authorized an investment of up to Rs. 500 million for entry into the pharmaceutical sector, through the establishment or acquisition of a manufacturing facility or company, in collaboration with subsidiaries / associated undertakings or otherwise.
This move marks a significant diversification into one of Pakistan’s most promising and high-growth industries.
The Board has also approved an investment of up to Rs. 400 million in the company’s subsidiary FNE Developments (Private) Limited, through equity subscription, loans/advances, or other financial instruments.
This commitment underscores the Company’s focus on accelerating growth in real estate and infrastructure development, with strong recurring revenue potential.
READ MORE: FNEL’s Subsidiary Starts Development at Pearl Resorts
Moreover, the company has entered into an agreement to divest its 20% equity stake (10,000 Class–B non-voting shares) in Kingbhai Digisol (Private) Limited for a total consideration of Rs. 280 million.
The transaction reflects a robust valuation, with the enterprise value of Kingbhai Digisol (Private) Limited independently assessed at approximately Rs. 1.5 Billion. This divestment is in line with the Company’s strategy to unlock value and reallocate capital towards high-growth ventures, the firm said.
