Sunridge offloads 10m Al Shaheer shares

MG News | July 31, 2024 at 09:43 AM GMT+05:00

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July 31, 2024 (MLN): Sunridge Foods (Private) Limited, a wholly owned subsidiary of Unity Foods Limited (PSX: UNITY) sold 10 million voting shares of Al Shaheer Corporation Limited (PSX: ASC) on July 29, 2024.

As a result of this transaction, Sunridge's total shareholding in Al Shaheer has decreased to 59.06m shares, representing 15.75% of the company's total issued voting shares.

Unity Foods acquired Sunridge in 2020, with its first production being Sunridge Whole Wheat Flour. Sunridge Foods began its launch operations from Port Qasim, Karachi in 2015 and launched its first product in 2017 by the name of Sunridge Whole Wheat Flour.

Over the years, it has been successfully producing high-quality whole wheat flour with all its natural fibre, vitamins and minerals, fulfilling a major portion of every household’s nutritional needs. Sunridge Chakki Atta is produced in Pakistan’s first and only state-of-the-art PESA mill – the latest Swiss technology delivering superior quality flour.

The brand has a distribution footprint across 52 towns nationwide makes us proud to be a part of every household.

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