SBP grants approvals to JSBL for share transfer, subscriptions

MG News | August 07, 2023 at 09:34 AM GMT+05:00

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August 07, 2023 (MLN): The State Bank of Pakistan (SBP) has allowed Jahangir Siddiqui & Co. Limited (PSX: JSCL) to sell and transfer 235.68 million shares of BankIslami Pakistan Limited (BIPL) held by the company to its subsidiary JS Bank Limited (JSBL) in consideration for and consequently to acquire 266.74 shares of JSBL, the bank's filing on Monday revealed.

The central bank further allowed the bank to subscribe to additional shares of JSBL which are being issued by way of rights to all shareholders of JSBL and which would remain unsubscribed by the public shareholders of JSBL.

At the time of writing, the scrip of JSCL is being traded at Rs11.35 per share, down by 0.09% DoD.

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