Pakistan Cables commences purchasing process of equipment for its expansion project

MG News | April 25, 2019 at 04:33 PM GMT+05:00

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April 25, 2019 (MLN): Pakistan Cables Limited has notified the Pakistan Stock Exchange regarding the commencement of purchasing process of manufacturing equipment, on which Rs. 0.3 million have already been spent.

The Company had offered 25% Right Shares on April 19, 2018 for the purposes of purchasing machinery for its manufacturing expansion project, by offering 7,115,594 shares to the existing shareholders at a price of Rs. 160 per share.

The Right Shares were fully subscribed by the shareholders and the proceeds from the issue were credited in the company’s bank account on July 26, 2018.

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