AGP authorized to invest Rs2.4bn in OBS Pakistan

MG News | July 19, 2023 at 03:29 PM GMT+05:00

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July 19, 2023 (MLN): AGP Limited (PSX: AGP) has the authorization to invest in its associated company, OBS Pakistan (Private) Limited worth an amount of up to Rs2.4 billion, as resolved in the fifth Extraordinary General Meeting of the company held today.

This investment, in accordance with applicable laws, can be in the form of equity investment and resulting in a holding of up to ninety-two and a half percent (92.5%) of the issued and paid-up share capital of OBS Pakistan (Private) Limited for an indefinite period.

The principal activities of AGP include import, marketing, export, dealership, distribution, wholesale, and manufacturing of all kinds of pharmaceutical products.

Aitkenstuart Pakistan (Private) Limited (parent company) holds 55.80% of the share capital of the AGP and West End 16 Pte Limited, Singapore is the ultimate parent company.

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