SG Power seeks sector reclassification to pharmaceuticals

MG News | July 07, 2026 at 11:04 AM GMT+05:00

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July 07, 2026 (MLN): SG Power Limited (PSX: SGPL) has completed formalities for increasing its authorised share capital from Rs200 million to Rs800 million, paving the way for the company to proceed with its proposed right issue, subject to regulatory and corporate approvals.

In a notice sent to the Pakistan Stock Exchange (PSX), the company said it has obtained shareholders’ approval and completed all required procedures, including payment of prescribed fees, for the increase in authorised share capital.

The company stated that the enhanced capital base will provide the necessary capacity to undertake the proposed right issue as part of its future plans.

Meanwhile, SG Power has also submitted an application to the PSX seeking reclassification of its sector from Power Generation to Pharmaceuticals, in line with its approved strategic transformation and revised principal line of business.

The company said it will continue to inform shareholders and the exchange about further material developments in accordance with regulatory requirements.

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