UBL Issues Shares to Former Silk Bank Shareholders After Merger

United Bank Limited (PSX: UBL) has credited new shares into the respective CDC accounts of former Silk Bank Limited (PSX: SBL) shareholders, following the sanctioned amalgamation of SBL into UBL. The transition, effective from the start of business on March 11, 2025, was approved by the State Bank of Pakistan (SBP) under Section 48 of the Banking Companies Ordinance, 1962. As part of the merger, UBL has issued 27,944,188 new ordinary shares, each with a face value of Rs. 10, to eligible SBL shareholders. The allocation follows a swap ratio of one UBL share for every 325 ordinary shares of SBL. Only those registered as SBL shareholders by the close of business on March 20, 2025, qualify for the share issuance.