Flying Cement To Issue Right Shares As BOD Doubles Company’s Paid Up Capital: PSX

Karachi December 15 2021: Flying Cement Board of Directors resolved that the authorized share capital of the Company be and is hereby increased from Rs. 4,000,000,000/- (Pak Rupees Four Billion), divided into 400,000,000 Ordinary Shares of Rs. 10/- each, to Rs. 8,000,000,000/- (Pak Rupees Eight Billion), divided into 800,000,000 Ordinary Shares of Rs. 10/-
each.

The companies usually increased paid up capital when they are looking to raise additional funds from the market for the purpose of expansion.