UNITY's Sunridge increases stake in Al Shaheer Corporation to 18.42%

MG News | September 04, 2023 at 02:19 PM GMT+05:00

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September 04, 2023 (MLN): Sunridge Foods (Private) Limited, a wholly owned subsidiary of Unity Foods Limited (PSX: UNITY) has increased its shareholding in Al Shaheer Corporation Limited (PSX: ASC) to 18.42% by acquiring 37,123,188 more voting shares of Al Shaheer Corporation Limited (PSX: ASC), UNITY informed local bourse on Monday.

On account of this acquisition, its total shareholding in the company has risen to 69,064,774 shares which represents 18.42% of the total issued voting shares of the company.

Al Shaheer Corporation Limited is engaged in processing and trading different kinds of halal meat including goat, cow, chicken and fish, both for export market and local sales through the chain of its retail outlets.

UNITY has diversified its business portfolio to operate in an assorted agro-product mix for a global breadbasket, handling various agro commodities to connect them from the farm to the dining table.

The products include Edible Oil, Staples (Flour, Rice, Lentils, Pulses), Industrial Fats and various feed ingredients for the poultry and livestock sector.

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