Al Shaheer utilizes right subscription amount of Rs669.5m

MG News | May 26, 2023 at 03:45 PM GMT+05:00

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May 26, 2023 (MLN): Al Shaheer Corporation Limited (PSX: ASC) has successfully utilized the right subscription amount of Rs669.5 million, the company’s quarterly progress report issued to the bourse showed today.

Of the total subscription of Rs749.84m, funds worth Rs80.34m remained unutilized.

Going by the report, funds utilized for further food processing unit (FFP), primary processing unit (PP), local fresh meat business, and issue cost stood at Rs272.87m, Rs305.74m, Rs60m, and Rs30.88m respectively.

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

At the time of writing this, the stock of the company is being traded at a price of Rs7.35, down by 1.61% DoD.

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