DLL to invest Rs15m in Reon Alpha right issue

MG News | September 19, 2023 at 03:00 PM GMT+05:00

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September 19, 2023 (MLN): The Board of Directors (BoD) of Dawood Lawrencepur Limited (PSX: DLL) on Monday approved an investment of Rs15 million in the Right Issue announced by Reon Alpha (Private) Limited, DLL’s filing on the local bourse revealed.

This investment of Rs15m comprises 1,500,000 shares of Rs10 each in Reon Alpha Limited, which is a wholly-owned subsidiary company 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 Rs250, up by Rs12 or 5.05% 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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