21
Mar
17:30
Mughal rights issue to raise $12m for expansion
Mughal Steel will carry out a rights issue to raise PKR 1.26 billion ($12 million) to help finance the procurement of six gas-fired electric generators that will support increased billet output. Funds will also go towards the modernisation of its bar mill.
The Pakistani steelmaker will issue 100 rights shares for every 100 existing ordinary shares held, at par value of PKR 10/share. The share transfer books of the company will be closed from 6-12 April to determ…
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Anonymous
Very good overview of the weekly steel market.
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