PAEL to establish wholly owned foreign subsidiary in UAE

MG News | April 04, 2024 at 01:20 PM GMT+05:00

0:00

April 04, 2024 (MLN): The Board of Directors of Pak Elektron Limited (PSX: PAEL) has approved the incorporation of a wholly owned foreign subsidiary in the UAE, subject to all applicable regulatory approvals, company's filing on PSX revealed today.

The new subsidiary will be primarily engaged in commercial trading with import, export, distribution, and warehousing as its ancillary activities.

To note, the mentioned agenda was approved by the board in its meeting held on April 04, 2024.

This development has resulted in a positive response for the company's share price which is currently trading at Rs22.33, up by 11 paisa or 0.50% compared to the last close.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	162,226.28 361.89M	0.80% 1291.15
ALLSHR	98,265.59 1,028.96M	0.59% 579.30
KSE30	49,228.54 141.13M	1.12% 547.55
KMI30	230,765.91 122.03M	0.54% 1247.87
KMIALLSHR	63,863.21 525.85M	0.60% 382.09
BKTi	43,972.78 23.50M	-0.03% -11.73
OGTi	31,652.19 27.11M	2.27% 703.92

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	92,575.00	92,890.00 90,445.00	2995.00 3.34%
BRENT CRUDE	63.67	63.83 63.60	0.16 0.25%
RICHARDS BAY COAL MONTHLY	85.00	0.00 0.00	0.00 0.00%
ROTTERDAM COAL MONTHLY	96.25	96.25 95.90	0.35 0.37%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	59.41	59.65 59.32	0.16 0.27%
SUGAR #11 WORLD	14.66	15.05 14.62	-0.04 -0.27%