Treet Corporation utilizes 76% of rights issue for debt repayment

MG News | November 01, 2024 at 05:22 PM GMT+05:00

0:00

November 01, 2024 (MLN): Treet Corporation Limited (PSX: TREET) has utilized 76% of its rights issue amounting to Rs 1.899 billion for the repayment of debt and the realignment of its capital structure.

According to a notice issued by the company to PSX, the Board of Directors on August 03 approved a rights issue of 107.602% at an offer price of Rs13 per share (including a premium of PKR 3 per share).

This issuance included a total of 192,307,692 shares, resulting in an aggregate consideration of Rs2,499,999,996.

Of the total amount, 76% was utilized for debt purposes.

The remaining funds were allocated with 14.8% (Rs370 million) for capacity enhancement of razors and 9.2% (Rs230m) for new product development of the twin blade rubberized handle.

TREET further shared that the capacity enhancement of razors is 65% complete, while the development of the twin blade rubberized handle is 80% complete.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	167,642.28 291.89M	-0.25% -419.92
ALLSHR	101,179.88 772.85M	-0.01% -5.31
KSE30	51,000.17 132.20M	-0.41% -209.51
KMI30	240,508.51 109.07M	-0.51% -1236.96
KMIALLSHR	65,986.51 342.54M	-0.22% -146.91
BKTi	45,434.36 43.62M	0.11% 51.23
OGTi	32,945.97 16.91M	-1.30% -432.38

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,175.00	87,675.00 86,500.00	1415.00 1.65%
BRENT CRUDE	63.11	63.35 62.87	-0.06 -0.10%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	1.10 1.22%
ROTTERDAM COAL MONTHLY	96.45	96.45 96.45	-1.10 -1.13%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	59.31	59.67 59.09	-0.01 -0.02%
SUGAR #11 WORLD	14.79	14.84 14.72	0.03 0.20%