Business Recorder, 25 Nov 2008, RIZWAN BHATTI
KARACHI (November 25 2008): Country has received some $97.5 million sent by "Temasek Singapore" for acquisition of NIB Bank's right shares under its plan to raise a paid-up capital of the bank up to Rs 40 billion, banking sources told Business Recorder on Monday.
They said that NIB Bank is going to launch Initial Public Offer (IPO) of right shares for the existing shareholders from November 27 to December 28, 2008. However, NIB's holding group Temasek Holding Company Singapore is expecting poor response from the small shareholders in the wake of current worst situation in stock market. Therefore, Temasek has sent some $97.5 million in advance for acquisition of the right shares, which received in interbank market, they added.
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