AMBL board approves Rs2.5bn capital increase, new shares issuance

By MG News | August 07, 2024 at 04:11 PM GMT+05:00

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August 07, 2024 (MLN): The Board of Directors of Apna Microfinance Bank Limited (PSX: AMBL) has approved to enhance the Authorized Capital of the bank from 5 billion to Rs.7.5bn, AMBL's filing on PSX revealed today

Accordingly, the Memorandum and Articles of Association of the Bank are to be amended to comply with the regulations.

In addition, the board has authorized a further issuance of 135,039,028 ordinary shares, each with a face value of Rs10, to increase the paid-up share capital of the bank.

Both decisions are subject to approval by the shareholders and the Securities and Exchange Commission of Pakistan (SECP). Amendments to the bank’s Memorandum and Articles of Association will be made to comply with these changes.

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