Treet Corporation utilizes 76% of rights issue for debt repayment

News Image

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 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 19, 2025 at 04:28 PM GMT+05:00

4.7m families get BISP aid in Punjab


July 19, 2025 at 03:00 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 19, 2025 at 02:49 PM GMT+05:00

RDA attracts $182m in June


July 19, 2025 at 02:49 PM GMT+05:00

M2 falls by Rs455bn in a week



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg