Merit Packaging shareholders greenlight land, factory sale for Rs1.55bn

News Image

MG News | January 23, 2024 at 03:33 PM GMT+05:00

0:00

January 23, 2024 (MLN): The shareholders of Merit Packaging Limited (PSX: MERIT) have resolved to dispose of the land and factory building (assets) located at Korangi Industrial Township, Karachi for an aggregate sale consideration of around Rs1.55 billion, a notice issued on the local bouse showed today.

The said assets are situated at 17-B, Sector 29, Korangi Industrial Township, Karachi, and encompass an area of 17,111.11 square yards with an approximate covered area of 140,220 square feet.

Based on multiple valuation reports by SECP’s certified valuers Joseph Lobo (Private) Limited and K.G. Traders (Private) Limited, the aggregate sale consideration is Rs1,554,592,000.

The shareholders have further authorized and empowered the Board of Directors for the sale of assets.

Moreover, the Board is hereby empowered to agree upon modification in these resolutions that may be directed/required by the SECP without the need for any other further approval of the shareholders.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,429.76
73.69M
0.84%
1130.00
ALLSHR 84,648.12
312.39M
0.75%
629.96
KSE30 41,162.65
34.48M
0.85%
348.36
KMI30 193,715.71
36.17M
0.58%
1126.55
KMIALLSHR 56,365.98
140.36M
0.52%
293.73
BKTi 37,514.72
6.32M
1.47%
542.97
OGTi 28,275.09
1.59M
0.12%
34.82
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 122,585.00 122,945.00
118,675.00
4055.00
3.42%
BRENT CRUDE 70.48 70.86
70.36
0.12
0.17%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.56 68.95
68.41
0.11
0.16%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 14, 2025 at 10:46 AM GMT+05:00

Bitcoin overtakes Amazon in global asset rankings


July 14, 2025 at 10:24 AM GMT+05:00

Bitcoin surges past $121,000 for first time


July 14, 2025 at 10:00 AM GMT+05:00

Dewan Cement installs 6 MW solar energy system


July 14, 2025 at 09:39 AM GMT+05:00

Petrol prices likely to rise by Rs3–5 from July 16


July 14, 2025 at 09:26 AM GMT+05:00

Indus Motor Company



Top 5 things to watch in this week

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