Lafarge Pakistan Cement (LPCL) has decided to issue further shares

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Lafarge Pakistan Cement has decided to issue further shares to the sponsors of the company in lieu of the outstanding payables, a statement said.

The company has outstanding payables in foreign currency equivalent to Rs1.434 billion as of September 30 and will issue 159.405 million shares at the price of Rs9 per share at a discount of 10 percent at Rs 9 , subject to the shareholders, regulators and statutory approvals, it said.

Lafarge Pakistan Cement is a part of Lafarge, world leader of construction materials and received a loan from the parent company amounting to $10.8 million. The loan is payable in full on September 2, 2014 and carries a markup rate of six months LIBOR+1 percent per annum, it said.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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