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KARACHI, Aug 24: Soneri Bank Limited has approved issuance of interim bonus shares and right shares to meet the requirement of minimum paid-up capital. The board of directors of the bank here on Thursday approved issuance of interim bonus shares at the rate of 20pc or 20 shares for every 100 shares held and right shares at the rate of 25pc or 25 shares for every 100 shares held.
The right shares will be issued at par Rs10 per share. This would enable the bank to raise its paid-up capital to Rs3.117 billion.
The State Bank has set Rs3 billion as the minimum paid-up capital for the year ending December 31, 2006.
