Karachi, Silk Bank Limited informed Pakistan Stock Exchange that the intended acquisition is through a proposed subscription of news ordinary shares in the Bank by way of fresh equity injection of up to PKR 12 Billion. The Acquirer intense to subscribe, directly or indirectly through a SPV and through a consortium led by the Acquirer, to at least 51% of shareholding and control in the Target through the fresh equity injection.
Additional shares will be acquired from the minority shareholders by way of a public offer in accordance with applicable laws.
Silk Bank Limited was incorporated in Pakistan on April 04, 1994 as a Public Limited Company. The Bank commenced commercial operations on May 07, 1995. The bank is engaged in banking services.
The Bank is listed on Pakistan Stock Exchange along with the total numbers of shares which are 9,081,861,237. The Earnings per shares of the Company was (0.44) in 2019 which was 0.15 in 2018. Their Profit after Tax was (3,953,003,000) in 2019 which 1,329,933,000 in 2018.