KARACHI: The National Investment Trust (NIT), the country’s largest Asset Management Company (AMC) with Rs96 billion under management, has received Rs3.9 billion subscription to the NIT Islamic Equity Fund (NIT-IEF) during the pre-IPO period from May 11 to 15.
In an official statement, the company stated that the new NIT-IEF has been launched to cater the needs of investors looking for Shariah-compliant investment avenues in equity market.
Meanwhile, Engro Fertilisers Limited (EFERT) announced that it was redeeming the entire outstanding amount of the TFC-III Issue in aggregate amount of Rs1.44 billion on June 17, 2015 (inclusive of the scheduled Rs120 million redemption amount).
The company stated: “EFERT would like to redeem the captioned subject TFC pursuant to Schedule 8 condition 3 Section 3.4 Early Redemption of the Trust Deed.”
