PSX approves listing application of Searle Pakistan

News Image

MG News | January 11, 2023 at 09:33 AM GMT+05:00

0:00

January 11, 2023 (MLN): The Pakistan Stock Exchange (PSX) has approved the listing application and draft prospectus of Searle Pakistan Limited (SPL), a notice issued by company to PSX on Wednesday showed.

To note, SPL is the subsidiary of Searle Company Limited (SEARL).

The company will provide further updates as the matter progresses, the notification read.

Earlier, SPL has intended to raise Rs3.24 billion by issuing over 240bn ordinary shares using the 100% Book Building Method at a floor price of Rs13.50 per share.

The company will utilize the proceeds to set up a new pharmaceutical manufacturing facility in Lahore, capable of producing high-quality Intravenous (IV), Ophthalmology, Dermatology, and other Oral Solid Dosage (“OSD”) products or Options.

It is pertinent to mention that the existing manufacturing facility of SPL is not able to produce these products. The OSD products planned for the new facility are different from the ones being produced by the existing manufacturing facility.

This new manufacturing facility will be able to produce 8 million packs of medicine annually and will also have a storage capacity of 35,000 pallets.

SPL is ranked amongst the top pharmaceutical players in the country with a strong presence in Pakistan and Sri Lanka.

It is among the few pharma companies in Pakistan that have strategic business alliances with reputed international firms such as MSD, Vifor, Organon, and Santen.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,970.00 119,440.00
118,260.00
675.00
0.57%
BRENT CRUDE 71.90 73.17
71.75
-0.61
-0.84%
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 68.62 69.79
68.45
-0.59
-0.85%
SUGAR #11 WORLD 16.45 16.58
16.44
-0.14
-0.84%

Chart of the Day


Latest News
July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want


July 30, 2025 at 03:47 PM GMT+05:00

CCP resolves 223 cases, recovers Rs360m


July 30, 2025 at 03:15 PM GMT+05:00

SBP keeps policy rate unchanged at 11%


July 30, 2025 at 03:09 PM GMT+05:00

LSE Capital exits Ensmile Limited


July 30, 2025 at 03:06 PM GMT+05:00

PMYP, PILDAT sign landmark LOI to strengthen youth



Top 5 things to watch in this week

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