SITC acquires 12,800 shares of Sitara Developers

MG News | September 01, 2023 at 12:09 PM GMT+05:00

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September 01, 2023 (MLN): The management of Sitara Chemical Industries Limited (PSX: SITC) has officially informed PSX that the company has acquired 12,800 shares of its associated company, namely Sitara Developers (Private) Limited, at a share price of Rs234.81 per share.

Therefore, under PSX Rule No. 5.6.1 (d) of the Pakistan Stock Exchange Limited Rule Book, SITC has disseminated this material information to the Exchange.

The company is a Shariah Compliant Company certified by the Securities & Exchange Commission of Pakistan (SECP) under Shariah Governance Regulation 2018.

The principal activities of SITC are operating the Chlor Alkali plant, Oleo chemical plant, and yarn spinning unit.

At the time of writing, the company’s share is being traded at Rs233.90, up by Rs15.22 or 6.96% compared to the previous close.

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