trending Market Intelligence /marketintelligence/en/news-insights/trending/nHz9kdmUkSTUQqMQpVwihg2 content esgSubNav
In This List

Kuwait's Noor Financial sells 1.35% stake in Pakistan's Meezan Bank

Blog

Banking Essentials Newsletter: 17th April Edition

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Kuwait's Noor Financial sells 1.35% stake in Pakistan's Meezan Bank

Kuwait's Noor Financial Investment Co. sold a 1.35% stake in Pakistan's Meezan Bank Ltd., raising 1.23 billion Pakistani rupees in proceeds.

Under the transaction, Noor Financial sold 15,750,000 shares of Meezan Bank to various overseas institutional investors at 78 rupees apiece. The Dec. 24 disclosure came after Meezan Bank said Dec. 13 that Noor Financial was in talks with unnamed foreign investors to sell a 5.96% stake in the bank. Noor Financial held a 39.53% stake in the bank as of Dec. 13.

As of Dec. 25, US$1 was equivalent to 138.80 Pakistani rupees.