Inside Financial Markets

Engro Corporation sells 295 million EFERT shares

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.
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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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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)