Amreli Steels gets SECP nod for Rs1bn share issuance to sponsor

MG News | November 26, 2025 at 02:01 PM GMT+05:00

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November 26, 2025 (MLN): Amreli Steels Limited (PSX: ASTL) has received approval from the Securities and Exchange Commission of Pakistan (SECP) to issue 40 million ordinary shares of Rs10 each at a subscription price of Rs25 per share, including a premium of Rs15, to existing sponsor Shayan Akberali.

The direct issuance is valued at Rs1 billion.

The approval follows a special resolution passed by shareholders at the company’s Annual General Meeting on October 28, 2025, based on the board’s proposal in its meeting held on October 3, 2025.

The proceeds from the issuance will be used to support the company’s master debt restructuring plan, aligned with lender requirements.

Amreli Steels will now complete the necessary statutory filings and share allotment formalities in compliance with applicable laws and regulations.

The disclosure has been made under Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.

This move strengthens the company’s financial structure and signals a key step in its ongoing debt management strategy.

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