Engro Polymer & Chemical intends to issue rights shares to fund PVC and VCM Plant

MG News | March 14, 2018 at 10:00 AM GMT+05:00

0:00

According to a notification sent to PSX, Engro Polymer and Chemicals informed all stake holders that at the board meeting held March 13, 2018, the board of directors resolved that the company intends, in the near future, to carry out a rights issue of ordinary shares at a premium.

The aggregate amount of the proposed rights issue will be utilized to fund the addition of new PVC Plant of 100,000 MT & VCM Plant debottlenecking of 50,000 MT per annum. The estimated overall CAPEX is approximately Rs.7.6 Billion which is intended to be partially funded through issuance of right shares of approximately Rs. 5.4 Billion.

According to the notification, the share price, to be determined in the future, will not exceed Rs.30 per share.

Full notification link

Related News

Name	Price/Vol	%Chg/NChg
KSE100	156,177.82 367.85M	-0.00% -3.12
ALLSHR	95,630.38 1,498.37M	-0.06% -60.44
KSE30	47,678.47 206.79M	-0.08% -35.92
KMI30	229,682.22 174.86M	-0.02% -39.87
KMIALLSHR	64,366.76 638.47M	-0.08% -53.31
BKTi	41,922.80 89.51M	-0.11% -46.72
OGTi	31,735.79 16.87M	-0.80% -255.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	116,490.00	116,525.00 116,115.00	665.00 0.57%
BRENT CRUDE	67.91	68.59 67.62	-0.56 -0.82%
RICHARDS BAY COAL MONTHLY	84.00	0.00 0.00	-0.40 -0.47%
ROTTERDAM COAL MONTHLY	93.50	93.50 93.50	0.15 0.16%
USD RBD PALM OLEIN	1,106.50	1,106.50 1,106.50	0.00 0.00%
CRUDE OIL - WTI	63.64	63.67 63.59	-0.41 -0.64%
SUGAR #11 WORLD	16.23	16.59 16.23	-0.33 -1.99%