KARACHI: Silk Bank planning to issue long awaited shares of Rs 6.14 billion amid at raising the Rs 10 billion to achieve capital requirements.
Silk Bank Ltd presented a ‘tentative’ timeline about its much-awaited rights share issue in a notice sent to the stock exchange.
The bank is planning to issue over 6.41bn rights shares at Rs1.56 per share to raise Rs10bn.
Silk Bank received approval for the plan from the State Bank of Pakistan (SBP) earlier this month, and its board had approved the rights share issue last August.
