Silkbank allows MCB to proceed with due diligence for acquisition deal

MG News | June 01, 2023 at 09:37 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

June 01, 2023 (MLN): The Board of Directors of Silkbank Limited (PSX: SILK) has reviewed and considered the MCB Bank Limited (PSX: MCB) request and granted its in-principle approval to the management of the Bank to seek regulatory approval from the State Bank and take the required steps for initiating the due diligence of the Bank.

This is in reference to the MCB’s letter dated May 29, 2023, expressing its interest to initiate the due diligence of SILK.

Notably, earlier in May, the Board of Directors of SILK had considered the United Bank Limited (PSX: UBL) proposal and granted its approval to formally pursue the potential merger with UBL.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,696.51 304.87M	0.21% 373.73
ALLSHR	107,705.18 655.88M	0.15% 159.56
KSE30	52,933.03 152.01M	0.35% 184.89
KMI30	251,798.59 90.78M	0.35% 875.46
KMIALLSHR	69,442.62 342.89M	0.12% 85.14
BKTi	50,491.32 102.65M	0.60% 299.36
OGTi	36,062.21 6.01M	0.11% 39.56

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	78,460.00	78,500.00 77,660.00	625.00 0.80%
BRENT CRUDE	88.29	88.75 87.26	-0.23 -0.26%
RICHARDS BAY COAL MONTHLY	117.00	0.00 0.00	0.00 0.00%
ROTTERDAM COAL MONTHLY	131.50	132.75 131.50	1.75 1.35%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	83.44	83.78 82.25	-0.09 -0.11%
SUGAR #11 WORLD	17.56	18.66 17.44	-0.63 -3.46%