SECP allows Bank of Punjab to issue up to 523,560,209 shares

The Securities and Exchange Commission of Pakistan has allowed The Bank of Punjab BOP to issue up to 523,560,209 ordinary shares to the Government of Punjab in a first tranche amounting to up to Rs20 billion, according to a filing with the Pakistan Stock Exchange. The approval, dated October 26, 2026, follows a special resolution passed at the bank’s extraordinary general meeting on September 8.

The issue is by way of an offer other than a right offer. Its price will be the higher of Rs38.20 per share or the prevailing market price increased by a 5% premium.

The approval requires the shares to be issued only in book entry form within 60 days. The bank must notify the Commission and the Securities Exchange within seven days of issuance and submit a report to the Commission concerning shares held in blocked status with the CDC account immediately after issuance. The recipient must retain the shareholding arising from the issue under Regulation 5(1)(viii).