Final disclosure of utilization of IPO proceeds of Synthetic Products Enterprises Limited

Karachi, Synthetic Products Enterprises Limited informed Pakistan Stock Exchange about the utilization of proceeds from initial public offering of the company as on June 30, 2016. Net IPO proceeds show Rs. 540,891,050 and total expension is Rs. 563,851,419.

Synthetic Products Enterprises Limited (SPEL) is a part of SPEL Group which provides one stop shopping to customers for plastic products.

With its three plants, one in Kotlakhpat two in Pandoki, Lahore, it is organized in the product lines of Molds and Dies Manufacturing, Automotive Parts, Food Packaging, Plastic Crates and Off Road Vehicle Parts.

SPEL now has a portfolio of varied products with a large client base. Supplies are made to assemblers and manufacturers of cars, tractors, motor cycles, electronic equipment, road construction equipment etc. We also provide Plastic Packaging for Food, Hair Care, Skin Care and Pharmaceutical products.

The symbol “SPEL” is being used by the stock exchange for the shares of Synthetic Products Enterprises Limited.