Suroor Investment Limited, a company incorporated in Mauritius, has acquired 297.034 million ordinary shares of Arif Habib Bank Limited for Rs 2.673 billion at Rs 9 per share under share purchase agreement, subject to the necessary regulatory approval.
According to a notice sent to Karachi Stock Exchange (KSE) issued here on Wednesday, the share purchase agreement has been executed on June 30, 2009. This is in continuation of the memorandum of understanding (MoU) and head of terms signed between Arif Habib Securities Limited and Hussain Lawai on October 18, 2008 and December 24, 2008 respectively, the notice said.
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