Thatta Cement Company Limited (PSX: THCCL) shareholders have authorized the company to make investments in its associated company i.e. Thatta Power (Private) Limited (TPPL).
The investments will be made in TPPL by acquiring from Rotocast Engineering Company (Private) Limited, its equity stake in TPPL, comprising 12,500,000 ordinary shares of Rs. 10 each, constituting approximately 26.09 percent of the issued and paid-up capital of TPPL, at an aggregate price of Rs. 137,500,000, the company informed the Pakistan Stock Exchange (PSX) on Monday.
THCCL’s main business activity is manufacturing and marketing of cement. The company owns shareholding of Thatta Power (Private) Limited.
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