BRR Guardian Modaraba to raise Rs 86 mln for enhancing Diminishing Musharka business via Right Issue

MG News | November 02, 2020 at 10:24 AM GMT+05:00

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November 2, 2020 (MLN): BRR Guardian Modaraba (BRRGM) approved the revision in the purpose of Right Issue and utilization of proceeds of Issue, subject to approval of Registrar Modaraba Companies.

As per the notification to PSX, the purpose of the Right Issue is to use the proceeds of Issue for enhancing Diminishing Musharka business. That the Modaraba also served this particular niche of customers and catches on the opportunity, where it sees potential for investment and growth. Therefore, the company need to raise Rs. 86,362,260 through right issue to grow this Modaraba.

The proceeds of the issue will be utilized for issuing fresh Diminishing Musharka business.

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