Orix Leasing’s merger with Orix Bank approved, Orix Leasing Pakistan Ltd (OLP)

KARACHI: The extraordinary general meeting of Orix Leasing Pakistan Ltd (OLP) has approved the scheme amalgamation of Orix Investment Bank Pakistan (OIB) with and into OLP.According to a communique despatched to Karachi Stock Exchange (KSE) on Monday, the scheme was approved by the majority in number representing two-thirds in value of shareholders.About 99.98 per cent of shareholders voted in favour of amalgamation subject to the completion of all formalities and sanction of the scheme by SECP. It may be noted that the board of directors of OLP had proposed the swap ratio of 43:1, whereby one ordinary share of Rs10 each of OLP will be allotted against 43 shares of OIB.