STYLERS allocates most of right issue to loan repayment
MG News | July 23, 2025 at 12:58 PM GMT+05:00
0:00
July 23 ,2025(MLN): Stylers International Limited (PSX: STYLERS) has utilized Rs1.56 billion, or 67% of the proceeds from its right issue completed on August 22, 2024, for the repayment of loans from associates and directors.
An additional Rs0.76bn, or 33%, was allocated for capital expenditure related to the completion of an expansion project, as per the progress report.
The total proceeds received from the right issue amounted to Rs2.33bn, with no unutilized amount remaining.
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