Matco Foods explores capital options for corn starch division

MG News | November 26, 2024 at 10:45 AM GMT+05:00

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November 26, 2024 (MLN): The Board of Directors of Matco Foods Limited (PSX: MATCO) has approved the exploration and evaluation of strategic options to raise growth capital for its Corn Starch Division.

This initiative will be undertaken in a manner that best supports the company's ongoing operations, strategic investments, and expansion plans.

To facilitate this process, the company has engaged Bank Alfalah Limited as its financial advisor.

It is important to note that the agenda was approved by the board during its meeting held on November 25.

"We shall keep our shareholders updated with respect to the potential investment by making further announcements as and when the matter progresses," the company's notice to PSX reads.

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