LSE Capital Limited announced its plans to invest up to Rs. 150 million through a convertible equity facility in a prominent online gaming company in Pakistan, as disclosed to the main bourse on Friday.
Additionally, the company has approved an investment of up to CA$ 500,000 (Canadian dollars) to acquire up to a 20 percent equity stake in joint venture mode with InfoTech Pakistan. This investment aims for the complete acquisition of a Canadian-based software company specializing in sovereign tax software solutions, pending approval from the State Bank of Pakistan.
LSECL has also greenlit a second term sheet for the full divestment of equity shares from Ensmile Limited. This involves selling their remaining 50 percent equity holding, totaling 2.52 million shares at Rs. 71.29 per share, to other sponsors of Ensmile Limited. The transaction is set to conclude by December 31, 2024.
LSE Capital Limited operates as a Modaraba Company with its primary objective being the initiation, promotion, and management of various financial ventures, including modaraba companies, mutual funds, and unit trusts. Presently, LSECAP serves as the Modaraba Company of Modaraba Al-Mali.
