Sindh Bank approves swap ratio for merge
Both banks will approach the Supreme Court for clearance and then to the State Bank of Pakistan for review
This swap price will be presented to the shareholders in EOGM and the Sindh cabinet committee for their respective approval. PHOTO:FILE
KARACHI:
The board of directors of Sindh Bank, in its meeting held on August 10, 2018, approved the swap ratio of 1:8.37, which means one share of Sindh Bank will be equal to 8.37 shares of Summit Bank. This swap price will be presented to the shareholders in EOGM and the Sindh cabinet committee for their respective approvals. After that, both banks will approach the Supreme Court for clearance and then to the State Bank of Pakistan for review.
Published in The Express Tribune, August 11th, 2018.
The board of directors of Sindh Bank, in its meeting held on August 10, 2018, approved the swap ratio of 1:8.37, which means one share of Sindh Bank will be equal to 8.37 shares of Summit Bank. This swap price will be presented to the shareholders in EOGM and the Sindh cabinet committee for their respective approvals. After that, both banks will approach the Supreme Court for clearance and then to the State Bank of Pakistan for review.
Published in The Express Tribune, August 11th, 2018.