Soneri Bank Limited (PSX: SNBL) has disclosed that its board of directors has authorised the bank’s President and Chief Executive Officer to explore options for a potential acquisition as part of efforts to diversify the bank’s line of business.
In a notice filed at the Pakistan Stock Exchange on Friday, the bank said the proposed acquisition is currently at an early evaluation stage.
Any transaction will remain subject to satisfactory completion of due diligence, negotiations, execution of definitive agreements, receipt of all relevant corporate and regulatory approvals, and fulfilment of customary conditions precedent.
The bank clarified that further disclosures will be made as and when required under applicable laws, rules and regulations, including the Rule Book of the Pakistan Stock Exchange.
Soneri Bank did not disclose the identity of the potential target company or provide a timeline for the possible transaction.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
