Mitchells completes Rs500m rights issue, awaits PSX approval

April 21, 2026 (MLN): Mitchells Fruit Farms Limited (PSX: MFL) has confirmed full subscription of its rights issue, totalling Rs500 million, and has formally requested a No Objection Certificate (NOC) from the Pakistan Stock Exchange (PSX) to facilitate the release of proceeds to designated intermediaries.

According to a letter submitted to PSX management, the company stated that 2.78 million right shares were fully subscribed in line with regulatory requirements.

An accompanying auditor’s certificate verified receipt of the entire subscription amount, confirming inflows from directors, substantial shareholders, and the general public.

The shares were issued at Rs180 per share, including a premium of Rs170, resulting in total proceeds of Rs500 million.

The transaction was executed through designated banking channels and the Central Depository Company’s online payment system.

Auditors also confirmed that the company’s paid-up capital has been revised following the issuance, rising from Rs228.75 million to Rs256.53 million.

Mitchells has now sought PSX clearance to enable the release of funds to bankers to the issue and the Central Depository Company, marking the final procedural step in the rights issuance process.

The company said regulatory filings, including the return of allotment, will be completed in due course under applicable provisions of the Companies Act, 2017.

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