Karachi January 13 2022: The trading in the Unpaid Rights of the Unity Food Limited will end on Pakistan Stock Exchange w.e.f. Friday January 14. 2021.
UNITYR3 closes up 5.56 percent in today trading session at PSX to close the session at 2.85 with volume of 39 million shares.
The company has issued approximately 20.12 Right Shares for every 100 shares held (i.e., approximately 20.12 percent), at par (i.e., PKR 10 per share) (inclusive of Premium of PKR 17 per share).
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The Company issued 200,000,000 (Two Hundred Million) ordinary shares, at a price of PKR 27/- (Pak Rupees Twenty-Seven) per share, aggregating to PKR 5,400,000,000/- (Pak Rupees Five Billion Four Hundred Million).
The purpose of the Right Issue is to meet the increased working capital requirements of the Company and enhance shareholders’ value.
The issue was made at a premium of PKR 17 per share to par which reflects c. 30.96 percent discount to the last 6 months volume weighted average share price. A discount to market price is also in line with current market practice.
Out of the total right issue size of 200,000,000 shares of PKR 5,400,000,000, subscription amount to the tune of PKR 3,020,149,719 has been received prior to commencement of trading of Right letter.
