Foreign firm to invest Rs7bn in ICI Pakistan

E-Paper | March 10, 2026

Foreign firm to invest Rs7bn in ICI Pakistan

Our Equities Correspondent Published July 28, 2019

ICI Pakistan Limited (ICI) has received an expression of interest from ‘’an international financial institution’’ to invest Rs7 billion as growth capital into the company through a convertible debt instrument, the company said in a statement. — Photo courtesy ICI Facebook

KARACHI: ICI Pakistan Limited (ICI) has received an expression of interest from ‘’an international financial institution’’ to invest Rs7 billion as growth capital into the company through a convertible debt instrument, the company said in a statement.

The transaction is subject to completion of satisfactory due diligence, agreement of definitive contracts and receipt of all relevant approvals.

ICI also unveiled results for the year ended June 30, 2019 disclosing profit after tax, on consolidated basis for the year at Rs2.537bn, 23 per cent lower than the same period last year, mainly due to interest-rate driven higher finance costs and higher taxation expenses.

On a standalone basis, profit after tax for the year under review stood at Rs2.305bn and earning per share at Rs24.96 which was 25pc lower than the same period last year.

The ICI board recommended final cash dividend for the year ended June 30 at Rs4.50 per share which was in addition to Rs4.50 per share, already paid.

The company informed that following ICI’s majority-owned infant formula joint venture with NutriCo Morinaga (Private) Ltd, the manufacturing facility is under construction to produce Morinaga Infant Formula, which will be manufactured, distributed and sold by the company.

The commercial operations are expected to begin during the second half of calendar year 2019.

Published in Dawn, July 28th, 2019

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Mansur Ul Haque

Jul 28, 2019 09:06am

Money could have been raised from local investors by issuing fresh issue of right shares/ other instruments but unfortunately local business climate is not good. Investors are nervous. People are waiting outside and awaiting positive news. IMF loan has been sanctioned. Relations with US has improved. One wonders what the investors are awaiting. Don't know which is this foreign firm that is willing to take risk. When their is risk ,then the cost of loan or investment will be high. Still the declining trend in stock market has not been halted. The only reason that comes into mind for trust deficit of public is that still people don't have trust/ faith on PTI government. This is awakening call for Imran Khan to move forward to restore the confidence of public by his acts and deeds. Stop playing the old worn out song of the corruption of previous government. Leave accountability process to courts and NAB.

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Enlightened One

Jul 28, 2019 07:44pm

Why not encourage venture capitalists to venture into small and medium-sized businesses and bring them into the capital and securities markets? That way the funds would reach the lowest strata of society and provide an economic boost to the country. That would expand economy and resulting recruitment and employment which is what engages the human capital.

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