Pakistan, Aug. 11 -- The Bank of Punjab (BoP) has proposed issuing up to Rs30 billion worth of ordinary shares to the Government of Punjab through a non-rights issue, with the subscription planned in two tranches by June 2027. The listed bank disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Monday.

The Board of Directors of BoP have proposed, "subject to obtaining all applicable regulatory and corporate approvals, the issuance of ordinary shares, otherwise than by way of right issue, to the Government of the Punjab, against a proposed equity subscription of up to Rs30 billion to be undertaken in two tranches: up to Rs20 billion by December 31, 2026 and the balance by June 30, 2027," read the notice.

The pric...