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CORPORATE WATCH

February 14, 2018

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DIBPL earns Rs1.602bn profit

KARACHI: Dubai Islamic Bank Pakistan Ltd (DIBPL) earned a profit-after-tax of Rs1,602 million for the year ended Dec 31, 2017, said a press release issued by the bank on Tuesday.

The board of directors in a recently held meeting approved the audited financial statements of the bank.

It earned a profit before tax of Rs2,564m compared to Rs1,371m of last year, recording a growth of 87 per cent. Its earnings per share (EPS) stood at Rs1.41.

Actera plans IPO for auto firm

ISTANBUL: Turkish private equity fund Actera is planning an initial public offering for auto parts maker Standard Profil and has mandated JP Morgan for a listing that may take place in London, according to people familiar with the matter.

Actera is considering a flotation for the unit, which it acquired in 2013, three sources said, declining to be identified because the information is not yet public.

JP Morgan has been mandated and a London listing is being considered, two of the people said. One of them said the IPO could happen in May.

Actera was not immediately available for comment. JP Morgan and Standard Profil both declined to comment.

Standard Profil, which manufactures sealing parts for vehicles, had revenue of 390 million euros ($482m) in 2016, according to its website.

Published in Dawn, February 14th, 2018