ATC Holdings makes equity investment of Rs 88 million in National Foods Ltd
MG News | September 30, 2020 at 09:58 AM GMT+05:00
September 30, 2020 (MLN): ATC Holdings, the holding company of National Food Limited (NATF), has made an equity investment of Rs 88 million out of Rs 300 million by way of acquiring ordinary shares of National Foods Limited from the open market.
To recall, ATC Holdings, via notification to PSX dated September 17, 2019, had conveyed that the company decided to make a further equity investment of up to Rs 300 million to acquire ordinary shares of NATF.
According to the notice issued by the NATF today, further investment to the tune of Rs. 212 million shall be made by ATC Holdings during the period of the next 12 months at the prevailing market prices of shares of National Foods Limited. This decision has been approved by the shareholders of ATC Holdings in the Extra Ordinary General Meeting (EOGM) held on September 29, 2020.
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