MCB Limited Reports on Partial Subscription of Right Shares at Pakistan Stock Exchange

Karachi, This news comes from the Pakistan Stock Exchange (PSX) regarding the recent right share issuance by MCB Limited, which has not been fully subscribed as of the closing date. MCB Limited recorded a subscription amount of Rs.24.539,930 from a total issue size of Rs.35,985,500.

The right shares were available until the last subscription date, with a total of 3,598,550 shares issued. Out of these, 2,453,993 shares were subscribed, accumulating a capital of Rs. 24,539,930, leaving 1,144,557 shares, worth Rs. 11,445,570, unclaimed.

According to information available from the Pakistan Stock Exchange (PSX), the unsubscribed portion will be addressed by the Board of Directors of the Pakistan Stock Exchange Limited. In compliance with the Companies Act of 2017, the board will decide on the allotment of these remaining shares and the decision will subsequently be communicated to PSX.

Certificate holders of the Exchange will be informed in due course about the board’s decision on the unclaimed shares.