Sources told Pakistan Today that the anti-corruption organisation has started an investigation against the BoP on a bank defaulter’s complaint. The bank had issued rights shares of 70 per cent in 2017 at a premium of Rs2 per share. Against this advance subscription money of Rs10 billion, the bank issued rights shares in two phases of Rs5 billion each, in 2013 and 2014. While issuing rights shares, the bank management ensured compliance with SECP’s Companies (issue of Capital) Rules 1996, listing regulations of PSX. He had also written the same letter to Punjab chief minister, requesting to halt the process of shares issuance.

Source: Pakistan Today September 10, 2018 15:33 UTC