Searle acquires Searle IV Solutions and SVPL in Rs7.25bn deal

News Image

MG News | May 25, 2023 at 04:44 PM GMT+05:00

0:00

May 25, 2023 (MLN): The Searle Company Limited (PSX: SEARL) will acquire two associated companies, Searle IV Solutions (Private) Limited and Stellar Ventures Private Limited (SVPL), for a total of Rs7.25 billion, the company’s filing on PSX showed today.

The board meeting held today provided the approval for the acquisition of 100% of the issued and paid-up share capital of Searle IV Solutions (Private) Limited and SVPL for an aggregate price of Rs3.5bn and 3.75bn respectively.

This is subject to shareholder and regulatory approvals.

The company will also issue 121.4m right Shares at Rs35 per share, to increase its paid-up share capital by 31.13%.

The Right Issue will help the company grow its portfolio by buying shares Searle IV Solutions (Private) Limited.

Moreover, It will also help the company lower its debt and leverage in a rising interest rate scenario, and improve its profitability and financial ratios. This is expected to boost shareholder returns.

The dates of closure of the Share Transfer Books will be communicated later. The company expects these moves to enhance its growth and profitability in the future.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,502.54
259.91M
1.64%
2202.77
ALLSHR 85,079.90
838.35M
1.26%
1061.74
KSE30 41,552.62
97.27M
1.81%
738.33
KMI30 193,330.76
84.69M
0.39%
741.60
KMIALLSHR 56,315.31
366.02M
0.43%
243.06
BKTi 38,498.08
37.91M
4.13%
1526.33
OGTi 28,138.38
5.66M
-0.36%
-101.89
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,840.00 123,615.00
118,675.00
1310.00
1.11%
BRENT CRUDE 69.15 71.53
69.08
-1.21
-1.72%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 106.50 106.60
106.50
-2.20
-2.02%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.90 69.65
66.84
-1.55
-2.26%
SUGAR #11 WORLD 16.31 16.67
16.27
-0.26
-1.57%

Chart of the Day


Latest News
July 14, 2025 at 05:26 PM GMT+05:00

Gold price in Pakistan rises Rs1,600 per tola


July 14, 2025 at 04:59 PM GMT+05:00

Tax reforms focus on public ease, transparency


July 14, 2025 at 04:23 PM GMT+05:00

PSX Closing Bell: Another One Bites the High


July 14, 2025 at 04:06 PM GMT+05:00

PKR falls 25 paisa per USD



Top 5 things to watch in this week

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