IGI Insurance to buy 6% stake in Packages from Stora Enso

MG News | February 22, 2024 at 03:16 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

February 22, 2024 (MLN): The Board of Directors of IGI Insurance Limited (PSX: IGIIL) has accorded approval to acquire 6.04% shareholding in Packages Limited (Packages), a listed associate concern of the IGIIL, the company informed through a notice sent to the Pakistan Stock Exchange today.

This proposed transaction involves the acquisition of 5,396,650 ordinary shares from Stora Enso AB at an acceptable price range.

Moreover, it is subject to the approval of the shareholders and applicable regulatory/corporate approvals.

The Chief Executive Officer and Chief Financial Officer of IGIIL have been jointly and/or singly authorized to take such necessary steps as are applicable in accordance with applicable laws including but not limited to negotiations with Stora Enso AB.

Packages Limited is a public limited company incorporated in Pakistan. It is principally engaged in the manufacture and sale of packaging materials and tissue products.

It also hold investments in other companies.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,310.28 434.73M	-0.07% -119.74
ALLSHR	109,402.32 910.03M	0.21% 233.65
KSE30	54,005.86 184.89M	-0.47% -257.39
KMI30	255,725.19 167.56M	0.03% 73.46
KMIALLSHR	70,216.28 547.59M	0.32% 225.24
BKTi	52,240.23 69.77M	0.07% 34.26
OGTi	35,793.26 17.01M	1.22% 429.81

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,145.00	64,205.00 63,950.00	25.00 0.04%
BRENT CRUDE	87.88	88.09 87.56	0.16 0.18%
RICHARDS BAY COAL MONTHLY	105.50	0.00 0.00	-0.90 -0.85%
ROTTERDAM COAL MONTHLY	120.00	120.00 119.50	3.25 2.78%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	82.31	82.52 81.98	0.18 0.22%
SUGAR #11 WORLD	16.46	16.63 16.29	0.01 0.06%