Karachi, JS Bank Limited has disclosed its intention to acquire a substantial stake in BankIslami Pakistan Limited, a well-established Islamic bank in the country. Next Capital Limited, acting on behalf of JS Bank as the “Acquirer,” has submitted a Public Announcement of Offer to acquire 275,891,286 shares of the “Target Company” (BankIslami Pakistan Limited).

The Public Announcement of Offer was made on June 28, 2023, and has been published in leading national newspapers, with this offer, JS Bank is seeking to acquire a significant 41.17% ownership in BankIslami Pakistan Limited.