Ghani Chemical Wants to Raise Rs. 1.16 Billion From Shareholders

Ghani Chemical Industries Limited (PSX: GCIL) has proposed a rights matter of up to Rs.

Key points

• The rights matter represents approximately 20.40 percent of the company's existing paid-up ordinary share capital of 570, 451, 931 shares.
• Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
• The proposed matter forms part of a composite transaction involving the company's investment in the Silo Lashari, Jandran and Maiwand projects.
• Add as a preferredSource on Google Follow on Google News Join WhatsApp.

Ghani Chemical Industries Limited (PSX: GCIL) has proposed a rights matter of up to Rs. 1.16 billion to finance its investment in three projects, subject to shareholders' approval and the completion of other regulatory requirements.

According to a notice issued to the Pakistan Stock Exchange on Monday, the company's board approved the proposal to matter up to 116, 374, 900 Class B tracking shares at Rs. 10 per share. The proposed matter would raise up to Rs. 1, 163, 749, 000. Pakistan's Internet to Improve by October: PTA Chairman.

For context, the rights matter represents approximately 20.40 percent of the company's existing paid-up ordinary share capital of 570, 451, 931 shares. Eligible shareholders would receive one Class B tracking share for every 1, 000 ordinary shares held, subject to the final determination of the entitlement ratio and other applicable approvals.

Meanwhile, the proposed matter forms part of a composite transaction involving the company's investment in the Silo Lashari, Jandran and Maiwand projects. Ghani Chemical remarked the proceeds would be employed to fund its proposed equity investment in the projects.

Notably, the firm estimated the total cost of the three projects at approximately Rs. 6.02 billion. The proposed financing structure includes project debt of around Rs. 4 billion and project equity of approximately Rs. 2.01 billion.

Of the proposed project equity, Rs. While the remaining Rs, 1.16 billion would come from the rights matter. 850 million would be funded through the company's internal resources.

Ghani Chemical remarked the projects were anticipated to backing its expansion and diversification. The proposed investment would additionally provide the business with exposure to the projects' potential earnings and distributions, subject to the relevant agreements, approvals and applicable laws. Govt Again Blocks Ufone-Telenor's Push to Rebrand As e&.

Meanwhile, the firm stated the rights matter remained subject to approval by shareholders, amendments to its authorized share capital and other corporate documents, regulatory approvals, and the execution of definitive agreements related to the proposed transaction. Stay Connected with ProPakistani.

Obtain the latest business news, market insights, and economic updates wherever you prefer. Follow on Google Discover.

Taken together, the developments around ghani Chemical Wants to Raise Rs. 1.16 Billion From Shareholders point to a situation that is still moving, and the coming days should bring more clarity.