Minimum Capital Requirement: Silkbank gets more time to meet target
State Bank of Pakistan has extended time for Silkbank to meet the minimum capital requirement till December 2011.
KARACHI:
The State Bank of Pakistan has extended time for Silkbank to meet the minimum capital requirement till December 2011, according to a Securities and Exchange Commission of Pakistan (SECP) statement sent to the Karachi Stock Exchange. In accordance with the central bank’s decision, SECP allowed extension to Silkbank Limited for issuance of right shares at discount rate till December 31, 2011 as well. The bank will issue 2.8 billion shares at Rs2.50 per share, a discount of Rs7.50 per share, through right share issue.
Published in The Express Tribune, September 15th, 2011.
The State Bank of Pakistan has extended time for Silkbank to meet the minimum capital requirement till December 2011, according to a Securities and Exchange Commission of Pakistan (SECP) statement sent to the Karachi Stock Exchange. In accordance with the central bank’s decision, SECP allowed extension to Silkbank Limited for issuance of right shares at discount rate till December 31, 2011 as well. The bank will issue 2.8 billion shares at Rs2.50 per share, a discount of Rs7.50 per share, through right share issue.
Published in The Express Tribune, September 15th, 2011.