The Summit Bank’s majority investor suggested lowering the amount of additional capital injection on Monday.
The UAE-based investor, Nasser Abdulla Hussain Lootah, would buy 3.98 billion new shares at Rs2.51 each. The transaction will give the bank a capital injection of Rs10bn.
New liquidity will fix the bank’s capital adequacy difficulties.
It has also been reported the IMF encouraged the State Bank of Pakistan to address its undercapitalization.
Inked last year, the original share subscription agreement required the bank to issue 5.97bn shares to the Lootah-led consortium and other minority shareholders at Rs2.51 each. That would have raised Rs15bn.
Lootah holds 0.5% of the bank. His partnership will purchase 51 percent of Summit Bank and management control.
