Faysal Bank Limited (KASE:FABL) agreed to acquire additional 19.99% stake in Faysal Asset Management Limited from Razi -ur -Rehman Khan for PKR 90 million on May 31, 2018. Faysal Bank Limited will acquire 3 million shares at PKR 30 per share. The acquisition is subject to regulatory approval and shareholders approval. The board of directors of Faysal Bank Limited approved the transaction. On July 10, 2018, shareholders approved the transaction. KPMG Taseer Hadi & Co. acted as valuator for Faysal Bank Limited. Faysal Bank Limited (KASE:FABL) completed the acquisition of additional 19.99% stake in Faysal Asset Management Limited from Razi -ur -Rehman Khan on November 22, 2018. In another transaction, Faysal Bank Limited also acquired additional 50% stake in Faysal Asset Management Limited from Islamic Investment Company Of The Gulf (Bahamas) Limited resulting in an aggregate 99.99% stake in Faysal Asset Management Limited. The transaction received all requisite regulatory approvals.