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

News Image

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 139,860.29
98.68M
1.05%
1448.04
ALLSHR 86,638.41
203.32M
1.09%
935.45
KSE30 42,742.30
58.01M
1.15%
487.46
KMI30 196,904.55
61.99M
1.44%
2794.96
KMIALLSHR 57,513.11
107.29M
1.41%
799.45
BKTi 38,147.26
7.11M
0.84%
315.92
OGTi 28,400.36
30.17M
3.50%
959.72
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,120.00 119,430.00
117,905.00
1500.00
1.28%
BRENT CRUDE 72.36 72.82
72.17
-0.88
-1.20%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.99 70.41
69.80
-0.01
-0.01%
SUGAR #11 WORLD 16.46 16.58
16.37
-0.13
-0.78%

Chart of the Day


Latest News
July 31, 2025 at 11:20 AM GMT+05:00

Sitara Peroxide narrows annual loss by 77%


July 31, 2025 at 10:16 AM GMT+05:00

Pakistan seeks stronger trade ties with Morocco


July 31, 2025 at 10:02 AM GMT+05:00

Fed holds rates steady



Top 5 things to watch in this week

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