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	154,421.43 202.93M	-0.92% -1437.05
ALLSHR	92,487.78 401.80M	-0.96% -898.05
KSE30	47,322.74 112.52M	-1.11% -528.79
KMI30	221,927.00 101.40M	-0.80% -1792.09
KMIALLSHR	59,889.41 199.88M	-1.08% -652.12
BKTi	44,127.70 34.85M	-1.99% -894.82
OGTi	31,715.42 8.74M	-2.31% -748.93

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	70,385.00	71,145.00 69,345.00	-440.00 -0.62%
BRENT CRUDE	98.78	101.59 95.20	6.80 7.39%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-10.20 -9.31%
ROTTERDAM COAL MONTHLY	124.50	124.60 123.85	3.10 2.55%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	94.10	97.19 88.61	6.85 7.85%
SUGAR #11 WORLD	14.43	14.49 14.12	0.18 1.26%