MARKETS
Service Long March Tyres Limited (SLM), a subsidiary/associated company, has filed its prospectus with the Pakistan Stock Exchange for the listing of its shares, marking a significant step toward its initial public offering (IPO).
According to the company, SLM aims to raise between Rs5.6 billion and Rs7.8 billion through the IPO. The proposed offer comprises 389.7 million ordinary shares at a floor price of Rs14.25 per share, representing a 5% stake in the company post-listing.
The proceeds from the IPO will be utilized to establish a Passenger Car Radial (PCR) tyres project, with an estimated total cost of Rs22.5 billion. The remaining funding requirements for the project will be met through long-term financing and the company’s internal cash flows.
The planned investment is expected to strengthen local tyre manufacturing capacity and support the development of Pakistan’s automotive sector. – ER News Desk
READ MORE
Engineering Excellence Under Extreme Conditions
By Muhammad Tariq Haq The New Benchmark in Lean Burn Gas Power GenerationSingle-Step Load Acceptance…
PPL Signs Agreements for Eight Offshore Exploration Blocks Under 2025 Bid Round
Pakistan Petroleum Limited has signed Production Sharing Agreements (PSAs) and exploration licences for eight offshore…
Tariq Glass to Establish Value-Added Manufacturing Facility at QABP-SEZ
Tariq Glass Industries Limited has announced that it has received formal approval from the Authority…
NHA Maintenance Contractors Stage Protest in Karachi Over Delayed Payments
Maintenance contractors from across Sindh, under the platform of the All Pakistan Association of NHA…
G7 agreed IMF and World Bank should increase aid to vulnerable countries
French Finance Minister Roland Lescure said on Tuesday that G7 finance ministers had agreed that…
CM Murad Ali Shah Reaffirms Commitment to Digital Inclusion on World Telecommunication Day
Syed Murad Ali Shah has said that modern technology and digital connectivity are the foundations…