ISL seeks shareholder nod to offload CECL stake worth Rs350m

MG News | August 20, 2026 at 09:19 AM GMT+05:00

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August 20, 2026 (MLN): International Steels Limited (PSX:ISL) plans to sell its entire 17% stake in Chinoy Engineering & Construction (Pvt) Limited (CECL), comprising 4,845,000 ordinary shares of Rs10 each, for Rs72.24 per share in a deal worth a total of Rs350 million, subject to regulatory approval.

The Board of Directors recommended the disposal for shareholders' approval at the Board meeting held on August 19, 2026, with final approval to be sought at the company's 19th Annual General Meeting (AGM) scheduled for October 5, 2026.

The formal notice of the AGM will be issued in due course.

The information was disseminated through a notification to the Exchange.

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