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KARACHI: The International Finance Corporation (IFC), in a notice sent to the Karachi Stock Exchange on Thursday, decided to invest 15 percent of its total paid-up capital with Bank Alfalah.
As per details, the bank will issue shares in deliberation of the IFC investment at Rs 28 per share, depending on regulatory approvals, which will result in an investment of $ 67 million.
It is pertinent to mention here that the IFC financed and provided advice to private sector ventures and projects in developing countries. It also gave its advisory to governments to create conditions that stimulate the flow of both domestic and foreign private investment.
