Meezan Bank to raise Rs 6 billion via issue of Subordinated Instruments

By MG News | April 29, 2019 at 04:17 PM GMT+05:00

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April 29, 2019 (MLN): The Board of Directors of Meezan Bank Limited has approved to raise Tier 2 Capital through issuance of Subordinated Instrument, in the form of Tier 2 Sukuk up to the extent of Rs. 6 billion to the general public.

The issue shall be done by way of public offering and/or to eligible institutional and other investors by way of private placement in terms of State Bank of Pakistan’s relevant rules, regulations, circulars and notifications, subject to obtaining all applicable corporate and regulatory approvals and completion of necessary formalities.

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