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SECP approves conversion of Rs 6.879 billion financing by Treet Corporation to FTMM into equity

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March 3, 2021 (MLN): The Security and Exchange Commission of Pakistan (SECP) has given its no objection to convert the financing of Rs 6.879 billion by Treet Corporation to First Treet manufacturing Modaraba (FTMM) into equity.

As per the company’s notice to PSX, SECP has approved to convert the aforesaid financing into equity by the issuance of 687,990,293, other than Right certificates of FTMM at Rs 10 each (at par) to Treet Corporation Limited without offering the same to the existing members of the Modaraba (FTMM) as provided in Section 83(1)(b) of the Companies Act, 2017.

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Posted on: 2021-03-03T11:10:00+05:00

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