Chashma Sugar Mills to launch Premier Grain Ethanol Limited as new subsidiary

MG News | March 19, 2024 at 12:07 PM GMT+05:00

0:00

March 19, 2024 (MLN): The Board of Directors of Chashma Sugar Mills Limited (PSX: CHAS) has approved the incorporation of a new subsidiary company in the name of "Premier Grain Ethanol Limited".

The new company will focus on manufacturing, producing, and selling various types and grades of ethanol, along with related products and by-products derived from grains as raw materials.

This agenda was approved by the board in their meeting held on March 15, 2024, and was disseminated by the company through a notice to the local bourse today.

The total paid-up capital of the new company will be Rs650.02 million divided into 65.002 million Ordinary Shares of Rs10 each.

Around 77% of the shareholding which is Rs500m will be contributed by Chashma Sugar Mills Limited and the remaining will be contributed by Directors of the company and others.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,960.65 392.43M	0.97% 1646.79
ALLSHR	103,659.28 947.75M	0.62% 643.69
KSE30	52,557.52 150.39M	1.36% 703.46
KMI30	245,023.89 112.16M	1.14% 2764.20
KMIALLSHR	67,064.35 524.22M	0.51% 340.18
BKTi	47,590.36 57.61M	1.56% 728.93
OGTi	33,487.27 7.87M	-0.38% -127.99

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	86,550.00	89,660.00 85,530.00	585.00 0.68%
BRENT CRUDE	60.13	60.67 59.54	0.45 0.75%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	97.50	97.50 97.50	0.75 0.78%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.32	56.85 55.73	0.51 0.91%
SUGAR #11 WORLD	14.42	14.80 14.38	-0.34 -2.30%