First IBL Modaraba plans subsidiary for EV Mobility, Trading

First IBL Modaraba has approved, in principle, setting up a subsidiary to examine new business opportunities, including electric-vehicle mobility, related activities and trading. Mettis Global reported that the proposed unit could also pursue other profitable avenues, although the company has not specified which opportunities it will take forward.

The board passed the resolution at its meeting on October 27, 2026, and the plan remains conditional on regulatory approvals and completion of legal and statutory requirements. The company disclosed the decision through a notification to the exchange, so the approval does not yet confirm that the subsidiary has been established or that any business has begun. For investors, the announcement signals a potential expansion of First IBL Modaraba’s activities into EV mobility and trading, while the next steps depend on the stated formalities.