JS Abamco Dividend Announced

JS Abamco (formerly Abamco Limited) has announced total cash dividend of Rs888.806 million for its three closed-end and one open-end mutual funds. Accordingly, the Board of Directors of the Company approved cash dividend at Re1 per unit for UTP – Large Cap Fund; Rs1.275 per unit for UTP – Growth Fund; Rs7.5 per unit for UTP – A30+ and Re1 per unit for BSJS Balanced Fund. JS Abamco Ltd enjoys an asset manager rating of ‘AM2+’, which is the highest rating ever received by any asset manager in Pakistan and reflects its leadership and strength in the asset management sector. Moreover, PACRA has assigned 5-star ratings for superior performance to all eligible open-end funds.

PSO sell-off attracts keen interest

The Privatisation Commission (PC) has received keen interest from several parties in response to the recent re-advertisement for the proposed sale of 51 per cent shares in Pakistan State Oil (PSO) with management control, the PC said on Wednesday.

Parties and groups submitting Statement of Qualifications (SOQs) and/or reaffirming their continuing interest in PSO include Abraaj Capital, UAE, Abu Dhabi Group, UAE, Al-Ghurair Investment, UAE, consortium of Aljomaih Group Saudi Arabia and Noor Financial Investment, Kuwait and National Industries Group, Bakri International Energy Systems and Dabbagh Group Holding, Saudi Arabia, Goldman Sachs (Asia) Finance, Vitol SA (Switzerland) and MCB Bank, Fauji Foundation, Attock Group of Companies and Kohinoor Group led by Kohinoor Textiles from Pakistan. In addition, some parties indicated their interest but did not submit SOQ, including the PSO employee group.