GCIL utilizes Rs1.91bn right issue amount against Rs2.56bn allocation

MG News | January 12, 2024 at 11:12 AM GMT+05:00

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January 12, 2024 (MLN): Ghani Chemical Industries Limited (PSX: GCIL) has utilized the right subscription amount of Rs1.911 billion against the fund allocated worth Rs2.561bn, the company’s quarterly progress report issued to the bourse showed today.

According to the report, the funds allocated for the Calcium Carbide Project and Working Capital Requirements, amounting to Rs 1.620 billion and Rs 291.16 million respectively, have been fully utilized.

The funds allocated for the Super Capacitor Project - Kilowatt Lab Technologies Ltd worth Rs650m remain entirely unutilized.

ASC is principally engaged in the manufacturing, sale, and trading of medical and industrial gases and chemicals.

At the time of writing this, the stock of the company is being traded for Rs12.4, up by 18 paisa or 1.47% compared to its previous close.

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