DG Khan Cement to invest in Nishat Mills

DG Khan Cement to invest in Nishat Mills
Published: 18 March 2010

DG Khan Cement Company of Pakistan, has convened an extra-ordinary general meeting of shareholders on April 19, 2010 to get approval for an investment of PKR376.007m in the equity of Nishat Mills Ltd (a textile manufacturing company) by way of subscribing ordinary right share at premium.

According to a statement sent to KSE, Nishat Mills has announced 45 per cent right share at PKR40 per share inclusive of premium of PKR30 per share for its existing shareholders.

Having a shareholding of 20.880 million shares of NML, the company is entitled to 9.400 million right shares. The average market price of NML share is Rs63.28 (from September 2009 to February 2010).