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KARACHI: Nasser Abdulla Hussain Lootah has proposed to amend the share subscription agreement to reflect that he shall subscribe to 3,984,063,745 new ordinary shares of the Summit Bank Limited by way of other than rights at the unchanged subscription price of Rs 2.51 per share subject to requisite corporate and regulatory approvals.

Tender offer issued: UAE investor seeks to acquire 51pc stake of Summit Bank

After this, Nasser Abdulla Hussain Lootah will become a majority shareholder in the bank and acquire control of the bank, according to material information sent to Pakistan Stock Exchange on Monday.

Copyright Business Recorder, 2022

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Saleem Akhtar Qureshi Dec 14, 2022 02:14pm
Self Proclaimed His Excellency Lootah has been playing and wasting the time, he will never buy the Summit Bank when USD is trading at Rs 230+
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