JSCL to subscribe 165.46mn shares of JSBL

MG News | April 27, 2023 at 03:20 PM GMT+05:00

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April 27, 2023 (MLN): The Board of Directors (BoD) of Jahangir Siddiqui & Co. Ltd (PSX: JSCL) on Thursday approved the investment and subscription of 165.46 million ordinary shares being offered by JS Bank Limited (PSX: JSBL) by way of rights at Rs10 each for the aggregate subscription amount of Rs1.65 in proportion to the company's shareholding in JSBL.

This is subject to the approval of the shareholders of the company by way of special resolution under Section 199 of the Companies Act, 2017,

The board also resolved and approved to invest in and subscribe to a maximum of 55.1mn further unsubscribed shares of JSBL which will be offered to all public shareholders of JSBL.

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