Ghani Global Glass fully utilizes right subscription amount of Rs1.4bn

April 13, 2022 (MLN): Ghani Global Glass Limited has successfully utilized right subscription amount of Rs1.4 billion for expansion in new furnace & production line, and repayment of borrowing, company’s quarterly progress report issued to bourse showed today.

Of the total amount, funds worth Rs800 million has been utilized for expansion in new furnace & production line, while Rs600 million has been used for repayment of borrowing.

The company recently set up and fired 25 tons per day (TPD) second furnace for manufacturing of glass tubing after which the production capacity of the plant has been increased by 125%.

Meanwhile, the company’s value-added business, manufacturing of ampoules and vials using glass tubes produced in-house has grown significantly with 22 ampoules and 2 vial manufacturing machines currently operating. Ampoules production capacity has been increased to 70mn units per month.

To note, GGGL is a group company of Ghani Global Group. It is a subsidiary of Ghani Global Holdings Ltd. with a shareholding of 50.10%. The Company is in the business of manufacturing and sale of glass tubing, ampoules and vials.

At the time of reporting this, the stock of the company is currently trading at a price of Rs15.88, up by Rs0.27 or 1.73 DoD.

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