BGL scales up with increased paid-up capital
MG News | March 06, 2025 at 11:28 AM GMT+05:00
March 06, 2025 (MLN): Baluchistan Glass Limited (PSX: BGL) has increased its paid-up capital to Rs6.38 billion, comprising a total of 638.51 million ordinary shares of Rs10 each.
This increase follows the successful issuance of 376.91m ordinary shares, amounting to Rs3.77bn, to MMM Holding (Private) Limited (a holding company), the company's filing on PSX revealed today.
The shares were issued as other than right offer against its outstanding loan towards the Company under Section 83(1)(b) of the Companies Act, 2017, in accordance with the approval granted by the Securities & Exchange Commission of Pakistan (SECP).
As a result, the shareholding of MMM Holding (Private) Limited in Baluchistan Glass Limited has increased to 597.55m shares, representing 93.586% ownership.
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