DLL board approves Rs20m investment in Reon Alpha's right issue

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MG News | March 28, 2024 at 01:11 PM GMT+05:00

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March 28, 2024 (MLN): The Board of Directors of Dawood Lawrencepur Limited (PSX: DLL) has approved an investment of Rs20 million in the Right Issue announced by Reon Alpha (Private) Limited, comprising 2m shares of Rs10 each, according to a notice issued by DLL today.

It is crucial to mention that Reon Alpha is a wholly-owned subsidiary of DLL.

“The closed Period has been terminated with the dissemination of above material information,” the notice reads.

At the time of writing, DLL's share is being traded at Rs22.95, up by Rs3 or 1.36% compared to the previous close.

DLL manages investment in its subsidiaries and associated companies and is engaged in the business of trading and marketing renewable energy solutions, mainly solar, to commercial and industrial consumers, along with the legacy textile business.

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