JS Bank Takes Step Towards Enhancement Of Minority BIPL Shareholders

The JS Bank has taken a big step towards positively enhancing and developing minority shareholders of Bank Islami Private Limited (BIPL)

KARACHI, (UrduPoint / Pakistan Point News - 26th Apr, 2023 ):The JS Bank has taken a big step towards positively enhancing and developing minority shareholders of Bank Islami Private Limited (BIPL).

The Board of Directors of JS Bank Limited (JSBL) amended consideration for the public offer portion for the acquisition of 24.88% shareholding of Bank Islami from shares to cash offering, said a news release on Wednesday.

Earlier, BIPL minority shareholders were offered shares of JSBL subsidiaries, JS Global Capital Limited (JSGCL) and JS Investments Limited (JSIL).

Some shareholders wanted cash or Shariah-compliant consideration. The offer, which was for Rs 23 per share was at a significant premium to BIPL's share price.

Both organizations will operate independently with separate management. In a slow market, this acquisition has built a lot of interest and hope.