February 26, 2006	Sunday	Muharram 27, 1427

KARACHI, Feb 25: Pak Oman Investment Company Limited would take 51 per cent stake in an asset management subsidiary to be floated in Pakistan. A press release issued by the company on Saturday stated that in line with the agreement recently signed in Oman, Omani investment major Onic Holding, banking giant BankMuscat and National Logistics Corporation (Pakistan) had committed to pick up 34 per cent; 10 per cent and 5 per cent stakes, respectively in the asset management firm’s equity. The remaining 51 per cent shares would be held by Paki Oman Investment Company.

The company stated that the asset management company would launch and manage different types of mutual funds, providing an entry into the capital markets of Pakistan for local and foreign investors.