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

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

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	150,016.16 145.54M	0.56% 837.50
ALLSHR	90,164.34 252.99M	0.46% 410.34
KSE30	45,486.46 99.07M	-0.00% -1.03
KMI30	214,854.66 60.89M	0.67% 1433.99
KMIALLSHR	58,253.19 111.97M	0.44% 254.55
BKTi	41,815.03 51.07M	-1.21% -510.60
OGTi	30,860.86 6.60M	0.86% 262.33

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	74,795.00	76,190.00 73,305.00	675.00 0.91%
BRENT CRUDE	103.49	104.98 100.86	3.28 3.27%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-11.95 -10.73%
ROTTERDAM COAL MONTHLY	121.85	122.00 121.75	0.70 0.58%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	96.06	98.42 93.83	2.56 2.74%
SUGAR #11 WORLD	14.47	14.51 14.19	0.28 1.97%