ISLAMABAD, June 7: The subscription for initial public offering (IPO) of United Bank Limited shares opened on June 3 will conclude on June 8 (Wednesday) during banking hours. The Privatization Commission has offered 10 per cent shares of UBL to the general public with a green-shoe option of additional five per cent through Karachi, Lahore and Islamabad stock exchanges.

The large quality of shares offered will also add to the liquid share float in the market and add significantly to the investor base. The offer is being made at a rate of Rs50 per share. With a view to benefiting a large section of the general public, only 200 shares per applicant are being offered, requiring a total investment of Rs10,000. Pakistani citizens, both residents as well as overseas, are eligible to apply for these shares.