The Board of Orix Investment Bank in its meeting held on Tuesday approved a 200 percent Rights Issue (two shares for everyone share held) at par which will increase its paid up capital to Rs 1089 million making OIBP one of the largest capitalised investment banks of the country.
With tripling its paid up capital, OIBP would be in a position to expand its participation in the capital markets and in industrial investment for the benefits of its shareholders.
Orix Corporation of Japan and Orix Leasing Pakistan the sponsoring shareholders of OIBP have confirmed that they will take up their entitlement of rights. Orix Corporation is one of the biggest nonbank, diversified financial companies in the world with assets in excess of US $69 billion. Orix Leasing is Pakistan's largest leasing company and has five overseas joint ventures under its management.
The Orix group has a strong presence in the Middle East and its partners are some of the leading financial institutions and businesses houses of the region.-PR