PKGS to inject Rs3bn into StarchPack

MG News | December 27, 2024 at 04:42 PM GMT+05:00

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December 27, 2024 (MLN): The Board of Directors of Packages Limited (PSX: PKGS) has approved the injection of up to Rs3 billion into its 100% wholly owned subsidiary, StarchPack (Private) Limited (StarchPack).

The investment will be made in various forms, including ordinary share capital, subordinated debt, and the conversion of any prior loans into equity, the company's filing on PSX revealed today.

This is subject to compliance with applicable laws and the fulfillment of relevant corporate and regulatory approvals, if any.

StarchPack is a wholly owned subsidiary of PKGS and is involved in the manufacturing and sale of corn-based starch products, its derivatives, and by-products.

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