KESC Board of Directors approve issuance of 7.25 percent right shares

Karachi: Karachi Electric Supply Company’s Board of Director approved to offer right shares to shareholders in its meeting held on July 29, 2011. The entitlement of shareholders, post book closure, would be notified after approval of Securities & Exchange Commission of Pakistan.

KESC announced to offer 7.25 per cent right issue as per approval of the Board, that will be 29 ordinary right shares for every 400 ordinary shares held by the shareholders at par, which is Rs. 3.50 per share, a KESC press release said Monday. KESC says approval of Board to said right issue is subject to approval of SECP and book closure, in order to determine the entitlement of shareholders to the said issue.

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