MODAM may invest in YOUW’s right issue up to 10%

MG News | February 14, 2022 at 02:37 PM GMT+05:00

0:00

February 14, 2022 (MLN): Under the arrangement with Yousaf Weavings Mills Limited (YOUW) for its revival, Modaraba Al Mali (MODAM) & its associates may invest in the YOUW’s right issue up to 10% i.e., up to 10,000,000 shares (out of unsubscribed portion), the company’s filing on bourse said today.

MODAM & its associates shall have a priority right of subscription before the offering of the unsubscribed rights to anyone else, the notice said.

Modaraba Al Mali is a specialized Islamic vehicle focusing on Islamic Venture Capital/Private Equity and Restructuring/Rehabilitation of companies having potential for revival.

To recall, MODAM is also targeting to complete the revival of Oilboy Energy Limited (formerly Drekkar Kingsway Limited) by the end of April 30, 2022, under the “Revival Business Plan” wherein the financial impact of this transaction will be around Rs100 million.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	136,379.97 273.10M	0.32% 440.10
ALLSHR	84,648.35 701.94M	0.06% 47.97
KSE30	41,546.23 70.12M	0.42% 172.55
KMI30	191,719.76 71.30M	0.34% 649.79
KMIALLSHR	55,827.74 371.98M	0.16% 89.67
BKTi	37,827.61 18.93M	-1.72% -662.14
OGTi	27,670.67 7.41M	-0.42% -117.47

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,770.00	119,915.00 118,035.00	-860.00 -0.72%
BRENT CRUDE	68.78	69.01 68.75	0.26 0.38%
RICHARDS BAY COAL MONTHLY	96.50	0.00 0.00	1.80 1.90%
ROTTERDAM COAL MONTHLY	104.50	0.00 0.00	-1.05 -0.99%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.72	66.99 66.58	0.34 0.51%
SUGAR #11 WORLD	16.55	16.67 16.40	-0.01 -0.06%