PSX Greenlights Addition of Two New ABL Money Market Funds to Listings
Allied Bank Limited (PSX: ABL) has broadened its money market offerings by introducing two new listings on the Pakistan Stock Exchange. The ‘ABL Islamic Money Market Fund’ and ‘ABL Money Market Fund’ have been officially listed on the main bourse, as indicated by separate notices issued on Tuesday.
According to one filing, “Pakistan Stock Exchange Limited has granted approval for the formal listing and quotation of units of ABL Islamic Money Market Fund, an Open-end Mutual Fund on the Exchange effective from Wednesday, June 05, 2024.”
Similarly, another filing disclosed, “Pakistan Stock Exchange Limited has granted approval for the formal listing and quotation of units of ABL Money Market Fund, an Open-end Mutual Fund on the Exchange effective from Wednesday, June 05, 2024.”
Allied Bank Limited is a scheduled bank involved in commercial banking and associated services. It holds a long-term credit rating of ‘AAA’ assigned by the Pakistan Credit Rating Agency Limited (PACRA), with a short-term rating of ‘A1+’. Ibrahim Holdings (Private) Limited serves as the parent company of the Bank, with its registered office located in Pakistan. The Bank also serves as the holding company of ABL Asset Management Company Limited.
As of the filing date, the bank’s stock on the bourse was priced at Rs. 99.43, reflecting a rise of 0.94 percent or Rs. 0.93, with a turnover of 50,458 shares on Tuesday.
