Following the approval, the bank will now issue 9,250,469 units of FPO at the price of Rs 157 per unit.
The bank is issuing the FPO in order to increase its ordinary share’s ratio to 30 percent. Currently, the bank has 27.01 percent of ordinary shares. Its ratio of ordinary shares declines after acquisition of Civil Bank.
The last trading price of the bank was Rs 223 on July 6. The bank has present paid-up capital of Rs 21.65 billion. The bank has appointed Citizens Capital as issue manager.
