Searle Company explores funding options for subsidiary

MG News | April 17, 2024 at 12:49 PM GMT+05:00

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April 17, 2024 (MLN): The Searle Company Limited (PSX: SEARL) board has authorized to explore funding avenues for its subsidiary, Searle Pakistan Limited (SPL), it said in a company filing on Wednesday.

Options include reconsidering the listing of SPL on PSX, an initial Public Offering (IPO), strategic equity investment, strategic sale of SPL, or private placement of shares.

SPL is a leading pharmaceutical company with strong presence in several countries including Pakistan.

SPL formed strategic business alliances with reputed international firms like Organon, Schering Plough, MSD, Vifor & Santen by providing a full range of high quality professional services encompassing manufacturing, marketing, and sales.

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