Shell Pakistan successfully utilizes proceeds from right shares

MG News | March 07, 2022 at 03:52 PM GMT+05:00

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March 07, 2022 (MLN): The Board of Directors of Shell Pakistan Limited has informed that the proceeds from the right shares have been utilized, in order to reduce current debt levels, manage working capital, and support operations, the company said in a progress report of right issue.

To note, the company has decided to increase the paid-up capital by issue of a further 107,012,331 ordinary shares, having a face value of Rs10 as right shares. The purpose of the right issue is to meet the requirements of the company to effectively implement its business plan, with a view to enhancing the profitability of the company.

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