Al Shaheer overutilizes Rs749.85m allocated right issue funds

By MG News | March 18, 2024 at 12:02 PM GMT+05:00

0:00

March 18, 2024 (MLN): Al Shaheer Corporation Limited (PSX: ASC) has overutilized the right subscription allocated amount of Rs749.847 million by Rs1.038m, the company’s quarterly progress report issued to the bourse showed today.

Going by the report, funds utilized for further food processing unit (FFP), primary processing unit (PP), machinery for the Lahore plant, and local fresh meat business stood at Rs280m, Rs320m, Rs60m, and Rs60m, respectively.

Moreover, the company was allocated Rs29.847m for the issue costs, which the company overutilized, taking the total amount of utilized funds to Rs30.885m during the review period.

It is crucial to note that ASC is engaged in trading different kinds of halal meat including goat, cow, chicken, and fish, both for the export market and local sales through a chain of retail stores.

At the time of writing this, the company's scrip is being traded for Rs9.38, up by 9 paisa or 0.97% compared to its previous close.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,545.00	110,525.00 107,865.00	-870.00 -0.79%
BRENT CRUDE	67.47	67.96 67.22	-0.83 -1.22%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	65.65	67.18 65.40	-1.35 -2.01%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%