LSEFSL amends business scope after NBFC license surrender

Mettis Global reported that LSE Financial Services Limited (PSX: LSEFSL) has revised its objects clause in the memorandum after shareholders approved a change to its principal business. The same approval covered surrendering the company's non-banking finance company (NBFC) licence.

Under the revised clause, the new principal activity centres on investment in equities, bonds, mutual fund units, other financial instruments and every category of real assets. The company may keep or dispose of such holdings, provided it stays within the law in force.

The company will not operate as an investment company, a non-banking finance company or a brokerage firm, and it will not take deposits from the public. Mettis Global said the disclosure was made through a notice filed with the stock exchange.