Bank of Punjab Proposes Rs30 Billion Share Issue

The Bank of Punjab (BOP) has proposed issuing ordinary shares to the Government of Punjab against an equity investment of up to Rs30 billion, according to a disclosure made to the Pakistan Stock Exchange (PSX).

The proposal was approved by BOP's Board of Directors during an emergency meeting held on August 7, 2026, subject to all required regulatory and corporate approvals. The shares will be issued through a mechanism other than a right issue.

The proposed investment will be completed in two phases, with up to Rs20 billion planned by December 31, 2026, followed by the remaining amount by June 30, 2027.

The issue price has been set at Rs38.20 per ordinary share. However, if BOP's market price at the time of issuance is higher than Rs38.20, the shares will instead be issued at the prevailing market price plus a 5% premium.

The proposed share issuance remains conditional on approval from shareholders at an Extraordinary General Meeting, as well as relevant authorities including the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan.

BOP said any further developments regarding the proposed equity subscription will be disclosed to the PSX in accordance with applicable legal and regulatory requirements.