Apna Microfinance Bank gets SECP approval to issue shares worth Rs1.16 billion against deposit money

Apna Microfinance Bank Limited has received approval from the Securities and Exchange Commission of Pakistan to issue 116.055 million ordinary shares at par value of Rs10 per share through an other-than-right offer against share deposit money.

The issue amounts to Rs1.160 billion, according to a material information notice submitted to the Pakistan Stock Exchange on June 24, 2026.

The bank said the SECP approval was granted through letter No. CSD/CI/18/2018/396 dated June 23, 2026.

According to the SECP letter, the approval was granted by the competent authority, Commissioner (SMD), on the basis of a special resolution passed by shareholders of Apna Microfinance Bank Limited at an Extraordinary General Meeting held on January 21, 2025.

The regulator also referred to the bank’s application dated January 27, 2025 and further information submitted through email dated May 21, 2026.

Under the approved issuance, United Track Systems (Private) Limited will receive the largest allocation of 43.329 million shares.

United Software and Technologies International (Private) Limited will receive 29.708 million shares, while Tawasal Risk Management Services (Private) Limited will receive 20.746 million shares.

Tawasal Healthcare TPA (Private) Limited will receive 17.342 million shares, and Mr. Muhammad Akram Shahid will receive 4.930 million shares.

The total approved issuance stands at 116.055 million shares.

The SECP has attached several conditions to the approval.

The shares must be issued only in book-entry form within 60 days from the date of approval by the Commission.

The bank is required to intimate the Commission and the Securities Exchange within seven days of the issuance of shares.

Sponsors and associated companies or undertakings will be required to retain their shareholding arising from the issuance for two years from the date of issuance.

Persons other than sponsors and associated companies or undertakings must retain their shareholding for six months from the date of issuance.