JS Bank to acquire over 86mn shares of BankIslami

MG News | March 08, 2022 at 01:47 PM GMT+05:00

0:00

March 08, 2022 (MLN): The Board of Directors of JS Bank Limited (JSBL) in their meeting held on March 08, 2022, has resolved to invest into and acquire 86,316,954 shares of BankIslami Pakistan Limited (BIPL), (an associated entity) constituting to 7.79% paid-up capital of BIPL, from Emirates NBD BANK PJSC, at the rate of up to Rs13.24 per share, making the aggregate sale consideration to stand at up to Rs1.14 billion.

According to the notice issued to PSX, the proposed investment and acquisition of 7.79% paid-up capital of BIPL remains subject to approval by the shareholders of the company by way of a special majority at the upcoming Annual General Meeting of the Company (which is proposed to be held in Karachi on 30th March 2022, as well as permission of the State Bank of Pakistan and the Competition Commission of Pakistan and final consent from Emirates NBD BANK PJSC.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	156,177.82 367.85M	-0.00% -3.12
ALLSHR	95,630.38 1,498.37M	-0.06% -60.44
KSE30	47,678.47 206.79M	-0.08% -35.92
KMI30	229,682.22 174.86M	-0.02% -39.87
KMIALLSHR	64,366.76 638.47M	-0.08% -53.31
BKTi	41,922.80 89.51M	-0.11% -46.72
OGTi	31,735.79 16.87M	-0.80% -255.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	116,735.00	117,685.00 116,465.00	-355.00 -0.30%
BRENT CRUDE	67.83	68.59 67.81	-0.64 -0.93%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.35	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.87	64.67 63.86	-0.65 -1.01%
SUGAR #11 WORLD	16.40	16.59 16.39	-0.16 -0.97%