Pakistan’s Ismail Industries to set up wholly-owned subsidiary in Abu Dhabi

The Board of Directors of Ismail Industries Limited approved the establishment of a wholly owned subsidiary in Abu Dhabi, United Arab Emirates (UAE).

The company shared this development with the Pakistan Stock Exchange (PSX) in accordance with the provisions of sections 96 and 131 of the Securities Act, 2015, and paragraph 5.6.1 of the Listing Regulations of the PSX. 

The subsidiary is intended to, inter alia, undertake manufacturing, marketing, sales, and distribution of all kinds of food products, including but not limited to biscuits and confectionery and allied products, read the notice.  

The company will accordingly seek all necessary regulatory approvals and proceed with the incorporation process once the same has been obtained.

Ismail Industries Limited was incorporated in Karachi as a private limited company on June 21, 1988.

On November 01, 1989 the company was converted into a public limited company. 

The principal activities of the company are manufacturing and trading of sugar confectionery items, biscuits, potato chips, cast polypropylene (CPP) and Biaxially-oriented polyethene terephthalate (BOPET) film under the brands of ‘CandyLand’, ‘Bisconni’, ‘Snackcity’ and ‘Astro films’ respectively.