Sunridge Foods invests Rs500m in Unity Technologies, secures subsidiary status

By MG News | Category Equity | September 11, 2024 at 02:53 PM GMT+05:00

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September 11, 2024 (MLN): Sunridge Foods (Private) Limited (Sunridge), has made an investment of Rs500 million in Unity Technologies (Private) Limited (Unity Technologies).

Unity Foods Limited (PSX: UNITY), the parent company of Sunridge Foods informed market participants vide a notice issued to the local bourse today.

Through this investment, Sunridge will subscribe to 50,000,000 ordinary shares at Rs10 each, thereby making Unity Technologies its subsidiary.

The notice further informed that Unity Technologies has made an investment of Rs100m in Sunridge Mart (Private) Limited (Sunridge Mart) for the subscription of 10mordinary shares making Sunridge Mart its subsidiary.

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