Mari Petroleum approves Rs2.5bn investment in MMC

By MG News | April 29, 2024 at 09:39 AM GMT+05:00

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April 29, 2024 (MLN): The Board of Directors of Mari Petroleum Company Limited (PSX: MARI) has approved an investment of up to Rs2.5 billion by MARI in MMC by way of equity injection, the latest notice issued on the Pakistan Stock Exchange revealed today.

The investment will be made by MPCL in tranches spread over two years by subscribing to the right issue of MMC shares.

MMC is a wholly owned subsidiary of MPCL, which was established in July 2023 to undertake mineral mining projects in Pakistan and to contribute to the growth of the mineral mining sector of the country.

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