Baluchistan Glass Issues Shares Worth Rs. 3.7 Billion to Holding Company

Baluchistan Glass Limited (PSX: BGL) has completed the issuance of 376.9 million ordinary shares to its holding company M/s MMM Holding (Private) Limited, increasing its shareholding in BGL to 93.6 percent, the company informed the main bourse on Thursday. The shares, issued at a par value of Rs. 10 each, amount to Rs. 3.77 billion and were allocated against an outstanding loan under Section 83(1)(b) of the Companies Act, 2017, with approval from the Securities & Exchange Commission of Pakistan (SECP). Following this transaction, the company’s paid-up capital has increased to Rs. 6.39 billion, with a total of 638.5 million shares in circulation. Balochistan Glass Limited is engaged in the manufacturing and sale of glass containers, glass table wares, and plastic shells.