HASCOL to raise equity for company restructuring

By MG News | November 10, 2022 at 02:25 PM GMT+05:00

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November 10, 2022 (MLN): The board of HASCOL Petroleum Limited has received feedback from its financial advisor on the various equity-raising options for the restructuring of the company, the company’s filings on the stock exchange showed on Thursday.

In the filing, a receipt by the financial advisor was received for a number of non-bidding expressions of interest for the acquisition of a strategic equity stake in the company and the option of a retail equity investment through a rights issue.

Moreover, the board of the company has directed the financial advisor to continue to engage further with the relevant parties.

At the time of writing, the scrip of the company is being traded at Rs7.92, up by Rs0.05 or 0.64% DoD.

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