GCIL disinvests shares in three subsidiaries to streamline operations

MG News | March 16, 2023 at 03:43 PM GMT+05:00

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March 16, 2023 (MLN): Ghani Chemical Industries Limited (PSX: GCIL) has disinvested its entire shareholding of 25,000 shares in three of its subsidiary companies, namely A One Prefabs (Private) Limited, A One Batteries (Private) Limited, and Awal Engineering (Private) Limited.

This move came after the approval of the shareholders of the company in their Extra Ordinary General Meeting (EOGM) held on December 20, 2022.

The company has taken this decision to avoid unnecessary legal formalities regarding the attachment and publication of consolidated accounts. The disinvestment is expected to streamline the company's operations and enhance its financial performance by focusing on its core business activities.

A One Prefabs (Private) Limited, A One Batteries (Private) Limited and Awal Engineering (Private) Limited are renowned companies in the respective sectors of prefabricated construction, battery manufacturing, and engineering services.

GCIL is a leading player in the chemical industry with a diversified portfolio of products and services.

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