STYLERS shareholders invest Rs2.3bn in right shares

MG News | July 09, 2024 at 11:44 AM GMT+05:00

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July 09, 2024 (MLN): The Sponsors / Directors and Substantial Shareholders of Stylers International Limited (PSX: STYLERS) have fully subscribed an amount of over Rs2.3 billion to purchase the right shares of the company.

This amount represents the entitlement of 52,954,358 right shares of STYLERS at an exercise price of Rs43.50 per share.

Moreover, an Auditors Certificate dated July 08, 2024, from the statutory auditors Riaz Ahmad & Company, Chartered Accountants confirms the receipt of subscription money for the issuance of right shares.

STYLERS informed market participants of this development through a notice issued to the local bourse today.

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