The Board of Directors of Service Industries Limited (PSX: SRVI) has approved a Rs. 500 million investment in its wholly-owned subsidiary, the company informed the main bourse on Friday.
It is a long-term equity investment of PKR 500,000,000 in Service Retail (Private) Limited, a wholly owned subsidiary company, by subscribing, at Par, 50,000,000 fully paid up ordinary right shares of PKR 10 each, the stock filing stated.
The principal activities of the Company are purchase, manufacture, and sale of footwear, tyres, tubes, and technical rubber products.
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