Home PSX MODAM issue 331% Right Shares at par value of Rs. 10

MODAM issue 331% Right Shares at par value of Rs. 10

Modaraba Al-Mali in a notification to PSX, has decided to increase the paid-up certificate capital of the Modaraba Ali-Mali by issue of 61,000,000 further modaraba certificates at par value (i.e. at Rs. 10/- each) by way of issuance of Right Modaraba Certificates to be offered to the members in proportion of approximately 331 Right certificates for every 100 modaraba certificates held i.e. 331% Right Issue at par value of Rs. 10/- per modaraba certificate.

The purpose of the Issue:
• Investment in Chemical Business;
• Setting up of IPO Support Fund;
• Underwriting and Business Revival activities; and
• Working Capital requirement including settlement of liabilities and meeting issue
related expenses;

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