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Engro Corporation sells 295 million EFERT shares

Baqar Hussain
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Engro Corporation sells 295 million EFERT shares

  • Engro Corporation  (ENGRO), through a notice on Pakistan Stock exchange (PSX) has notified the sale of 295mn shares of EFERT (22% of EFERT) at a price of Rs65.47/share (4% discount to last closing price).
  • The sale was earlier intended for up to 316mn shares (24% of EFERT).
  • The sale has raised Rs19bn (Rs37/share) that would be used to finance ENGRO’s upcoming projects of Thar mining and power generation.
  • The sale would result in a gain of Rs31/share on ENGRO’s stand-alone P/L.
[pdf-embedder url=”http://insidefinancialmarkets.com/wp-content/uploads/2016/06/Engro.pdf”]

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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