Unity Foods fully utilizes right issue's proceeds worth Rs5.4bn

MG News | May 19, 2022 at 02:03 PM GMT+05:00

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May 19, 2022 (MLN): Unity Foods Limited has informed that the proceeds of the fourth right issue of the company for Rs5.4 billion have been fully utilized to meet the increased working capital requirements.

According to the notice issued to PSX, the right issue proceeds immediately on transfer to the bank account of the company have been part of the working capital of the company.

The proceeds have been utilized primarily for the purposes of purchase of inventories (part of working capital) and there has been no deviation from the announcement made.

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