corporate watch

September 03, 2019


Gul Ahmed plans Rs2.3bn investment

KARACHI: Gul Ahmed Textile Mills informed the exchange that a resolution passed at the extraordinary general meeting on Aug 30 authorised the company to make an investment of Rs2.295 billion in Worldwide Developers Ltd by acquiring 50 per cent of the issued and paid-up share capital and subscribing to the right issue.

Nishat raises share buyback price

KARACHI: Nishat Chunian Ltd announced to increase the price of buyback of its 32 million shares by Rs2 per share to Rs34, from Rs32. A special resolution was passed at the extraordinary general meeting of shareholders on Aug 31 to that effect, the company said.

Aisha Steels earns Rs254m

KARACHI: Aisha Steel Mills Ltd announced profit after tax at Rs254m for FY19, translating into earnings per share at Rs0.33. It represented a decline of 80pc over PAT amounting to Rs1.284bn and EPS at Rs1.68 the previous year. Net earnings fell owing to gross margin shrinkage along with hefty rise in finance costs.

Published in Dawn, September 3rd, 2019