The listing of the said shares took place today.
Engro Polymers and Chemicals Limited aimed to raise Rs. 3 billion, through 300 million preference shares of the face value of Rs. 10 per share. Out of the 300 million preference shares, 262.5 million preference shares (87.5 percent) were offered to and subscribed by the Pre-IPO investors. Whereas 37.5 million preference shares (12.5 percent) were offered to the general public.
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The applications were received for subscriptions of more than 202 million shares being received against an allocated target of 37.5 million shares in the general public portion of the said IPO. The result of the IPO has thus been oversubscription by 5.39 times or by more than 164.547 million shares or Rs. 1.645 billion.
December 29, 2020
LAHORE: VIS Credit Rating Company Limited (VIS) has reaffirmed the corporate governance rating of Allied Bank Limited (ABL) at âCGR-9+â, a statement said on Monday.
The rating signifies very high level of corporate governance. The previous rating action was announced on April 2, 2020, it added.
The corporate governance ratings are based on the evaluation of key governance areas of the rated institution, including regulatory compliance, ownership structure, composition and operations of the board of directors and executive management, self-regulation, financial transparency and relationship with the stakeholders.
The assigned rating incorporates a well-established corporate governance framework rolled out by the bank and supplemented by strong financial transparency and effectively functioning board and management level committees.
Government discontinues Rs25,000 prize bonds
Business
December 11, 2020
ISLAMABAD: The government on Thursday discontinued prize bonds with Rs25,000 denomination and set a six-month deadline for investors to redeem or encash the popular investment instrument, in a second phase of documenting multibillion rupees worth of bond market.
National prize bonds of Rs25,000 denomination will not be sold with immediate effect and will not be encashed / redeemed after 31st May, 2021, according to a finance ministry’s decision.
Although cash payment for encashments of cited bonds is not allowed, bondholders can convert Rs25,000 denomination premium prize bonds (registered) through the 16 field offices of SBP Banking Services Corporation, and branches of six authorised commercial banks, including National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited.
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SBP discontinues Rs 25,000 National Prize Bond
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The bonds can be converted to Rs 25,000 denomination Premium bonds
KARACHI (Dunya News) – Fulfilling another requirement of the Financial Action Task Force (FATF), State bank of Pakistan (SBP) has halted the sale of Rs25,000 denomination prize bonds with immediate effect. The National Prize Bonds will not be encashed or redeemed after May 31, 2021.
According to the notification issued by SBP, cash payment for encashments of cited bonds is NOT allowed. However, the bondholder(s) shall have the following options to replace or encash these bonds;
The bonds can be converted to Rs 25,000 denomination Premium bonds (Registered) through the16 field offices of SBP Banking Services Corporation, and branches of six authorized commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited.