Karachi, The Jahangir Siddiqui and Co. Limited informed Pakistan Stock Exchange that the entire investment and shareholding of Banklslami Pakistan Limited (“BIPL”) (i.e., 235,684,306 ordinary shares representing 21.26% of the issued and paid-up capital of BIPL) to its subsidiary JS Bank Limited (“JSBL”), in exchange for consideration of 266,747,498 ordinary shares of face value of PKR 10 per share each of JSBL (i.e. 1.1318 ordinary shares of JSBL for every ordinary share of BIPL) to be issued to the Company as new other than rights and other than cash issue based on the valuation carted out by an approved valuer.
Jahangir Siddiqui & Co. Ltd. (JSCL) is primarily an investment company in financial services and also makes long term investments in growing companies in Pakistan. In financial services, its investments cover all sectors including asset management, commercial banking, investment banking, Islamic banking, securities brokerage and insurance. JSCL also benefits from strategic long term investments including in technology, transportation, media, and industrial sector companies.
The Company is now listed on Pakistan Stock Exchange Limited and quoted shares of it that are 915,942,388. The Earnings per shares of the Company is 1.32 in 2020 which was 0.39 in 2019. Their Profit after Taxation is 1,205,007,000 in 2020 which was 359,810,000 in 2019.