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JK Bank shares split, part to be transferred to UT of Ladakh

Part of the shares in JKB that were owned by Govt of JK to be transferred

Srinagar: J&K Bank on Tuesday said its board has given in-principle approval to transfer 8.23 per cent stake to Union Territory of Ladakh.

The board decided “to give its ‘In-principle approval’ for implementation of General Administration Department, Govt. of Jammu and Kashmir… in terms of which ownership of 8.23 per cent out of its (J&K Govt.) shareholding in Jammu and Kashmir Bank (4,58,29,445 Equity Shares) as on October 31, 2019, shall be transferred to UT of Ladakh,” the bank said in a regulatory filing.

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