KARACHI: M/s Fauji Foundation (FF) has expressed its interest in acquiring the majority stake in Silkbank Limited.

Aa part of the process, Silkbank has been requested to allow FF to conduct due diligence of Silkbank and in this regard FF intends to apply to the State Bank of Pakistan for the requisite approval of the same.

“Silkbank hereby notifies the Pakistan Stock Exchange that the Board of Directors of Silkbank Limited in its meeting held on January 28, 2021, has, subject to the approval of the State Bank of Pakistan, given its in-principle approval to allow Fauji Foundation to conduct the required due diligence and evaluate the information that will be provided by Silkbank in this regard,” a notice sent to Pakistan Stock Exchange said.

Copyright Business Recorder, 2021