JS Bank Launches Public Offer to Acquire 275 Million Shares of BankIslami Pakistan Limited

Karachi, JS Bank Limited has made a public announcement of its offer to acquire 275,891,286 shares of BankIslami Pakistan Limited (“Target”) under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. Next Capital Limited is overseeing the transaction as the Manager to the Offer.

As part of the acquisition process, BankIslami Pakistan Limited has closed its share transfer books from August 03, 2023, to August 09, 2023, to determine eligibility for the Offer Letter from JS Bank. The Acceptance Period will begin on August 15, 2023, at 9:00 am and end on August 21, 2023, at 5:00 pm, during which shareholders can tender their shares. Shareholders are advised to update their International Bank Account Numbers (IBAN) and CNIC/NTN with CDC Share Registrar Services Limited (CDCSRSL) to facilitate electronic transfers as the preferred payment method. For shareholders holding physical shares, transfer deeds verified by CDCSRSL will be required for acceptance during the Offer.

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