JSCL to take up any unsubscribed right shares of JSBL

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MG News | August 07, 2023 at 01:05 PM GMT+05:00

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August 07, 2023 (MLN): JS Bank Limited (PSX: JSBL) has informed that Jahangir Siddiqui & Co Limited (JSCL) offered to take up any unsubscribed Right Shares which were offered to the public shareholders on the same price and terms and conditions, the company’s filing on PSX revealed today.

JSCL is the sponsor of JSBL and made this offer vide its letter dated August 07, 2023.

“The State Bank of Pakistan has also provided its approval for this take-up by JSCL vide its letter dated August 04, 2023,” the notice further reads.

To note, JS Investments Limited (PSX: JSIL), a subsidiary of JSBL has stepped forward through a competitive bidding process to submit a binding offer for the acquisition of management rights of Faysal Asset Management Limited's conventional fund portfolio and management rights.

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