Loads Limited expansion project gets delayed

News Image

By MG News | March 29, 2018 at 01:06 PM GMT+05:00

0:00

Loads Limited is facing delay in investing the Initial Public Offering IPO proceeds in the approved project for expanding the capacities at the Loads Plant, the company informed via an exchange notice.

The company informed that the 550 million investment has been delayed due to a change in requirements of machinery, cost and, availability. Company keeping in view the expected rise in demand of auto parts and to achieve higher level of automation in their existing facility had raised funds thorough an IPO for expansion and modernization of its existing facilities. The company had issued 50 million shares of Loads Limited.

The comapny is also setting up an Alloy Wheels Manufacturing plant in Paksitan in a bid to meet the forecasted rising demand for autoparts in the country. Furthermore, Hi-Tech Autoparts, a wholly subsidiary of Loads Limited opened a letter of credit with Habib Bank Limited to import Alloy Wheels manufacturing plant from Australia. The announcement made in December last year anticipated a time of at least four months – April, 2018 – for the machinery to arrive in Pakistan.

The company had incurred total expenditures worth Rupees 17.128 million in expansion and modernization including machineries imported.

The company, however, informed its stakeholders that the investment of Rs. 550 million in capex will be completed by August, 2018. 

The company reported profits worth Rupees 132.356 million for the six months ending December, 2017.

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg