Please note: the information I am writing here: I got it from different online sources. In order to confirm this news, you may contact the officials:
I was searching for something when I saw this news that caught my eye. The news was about NIB bank near to be declared as a defaulter at KSE.
I personally have some of NIB’s shares so I decided to take a look at this news : )
The news source indicated that NIB has failed to give dividend or bonus shares to its share holders in the past few years: where according to KSE rules and regulations, a company has to pay dividend or bonus shares at least one time in 5 years time period.
The news source indicated that KSE may put NIB in the list of defaulters.
The author of this news story did mention that NIB has submitted a request at KSE for not listing them in the defaulters list. NIB has explained that in the recent past, the economical situation has changed and profits of the company have decreased.
Let’s wait and see if KSE will put NIB in the defaulters list or not. Under normal conditions, I would have sold my shares of NIB Bank [after hearing this news]: but currently, the share price of NIB has decreased significantly : ) So I think I should not sell them.
