PAKISTAN
Calcorp Limited has informed the Pakistan Stock Exchange (PSX) that its Board of Directors, in a meeting held yesterday at 2:30 p.m., reviewed a proposal to acquire Helios Resol Technology (Pvt.) Limited (Helios), an associated company. The Board has recommended that the matter be placed before the shareholders for approval through a Special Resolution at an Extraordinary General Meeting (EGM).
Under the proposed transaction, Calcorp will acquire 50,000 ordinary voting shares of Helios — representing 100 percent of its shareholding — at a total cost of Rs. 100,000 (Rs. 2 per share), subject to fulfillment of legal and regulatory requirements.
Helios, which has yet to commence operations, is registered with the Special Economic Zone Authority and has been allotted two acres of land in Bin Qasim Industrial Park – SEZ. The company aims to manufacture and assemble photovoltaic modules, battery systems, inverters, and related ancillaries.
As part of its project commitments, Helios has already deposited Rs. 35 million as the first installment to the Special Economic Zone Authority and reported capital work-in-progress of Rs. 1.7 million as of June 30, 2025. The company will also enjoy a 10-year tax holiday from the date its commercial operations are certified by the SEZ Developer.
Calcorp stated in its notice to the PSX that the date and venue of the EGM will be announced in due course, and that it will keep the Exchange informed of any material developments regarding the transaction. – ER News Desk
