Karachi, Pakistan – In a significant move following the recent court-approved restructuring of Bank Makramah Limited (BML), its largest shareholder, Suroor Investments (Pvt.) Ltd., has proposed a substantial reduction in its shareholding. The strategic proposal, detailed in a filing to the Pakistan Stock Exchange (PSX), comes on the heels of the successful financial overhaul of the institution, signaling a new chapter for the bank and its stakeholders.
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Suroor Investments, which currently holds a commanding 76.41% of the bank’s total issued shares, has put forward a plan to reduce its stake by 26.41%. This would involve the cancellation of over 1.32 billion shares, subsequently lowering its holding to 50% of the bank’s post-cancellation paid-up capital. The decision is framed as a direct consequence of the bank’s newly stabilized financial footing. The company stated, “Following the court-approved restructuring of BML, Suroor Investments has decided to rationalize its shareholding in the bank.” They further clarified the intent behind the move, adding, “The proposed cancellation of shares will not involve any cash outflow, compensation, or other consideration and is aimed at simplifying the shareholding structure of BML.”
This proposal is now subject to the approval of the bank’s shareholders, who will vote on the matter at an Extraordinary General Meeting (EOGM) scheduled for December 19, 2025. The required quorum for the meeting has been set at over 50% of the voting shares, either in person or by proxy. Should the resolution pass, it will mark a pivotal step in the bank’s post-restructuring phase, creating a more diversified ownership base and potentially enhancing the stock’s liquidity for public investors. The move is widely seen as a confidence-building measure, demonstrating the core investor’s long-term commitment at a 50% stake while making room for broader market participation. This strategic streamlining of the capital structure is a clear indicator of Bank Makramah’s transition from a period of financial reorganization to a focus on future growth and stability in the competitive banking landscape.
