UNITY to invest Rs4.9bn in Sunridge Foods
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MG News | March 27, 2023 at 11:19 AM GMT+05:00
March 27, 2023 (MLN): The Board of Directors of Unity Foods Limited (PSX: UNITY) in its meeting held today approved an equity investment of Rs4.9 billion in Sunridge Foods (Private) Limited by way of subscription of 111.11 million right shares at Rs45 per share, including premium of Rs35 per share.
This investment is being made by Unity Foods with a vision of long-term growth.
Sunridge is a wholly-owned subsidiary of the company. The company has become a true National Brand and increasing its product availability throughout the country and eying the export market as well.
This investment will help the subsidiary increase its profitability which will in turn benefit the company and its shareholders.
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