Baluchistan Glass Limited has increased its paid-up capital to Rs6.38 billion after completing a share issuance of Rs3.77 billion to its holding company, M/s MMM Holding (Private) Limited. The shares were issued as an alternative to a rights offer to settle outstanding loans.
In a notification to the Pakistan Stock Exchange (PSX) and the Securities & Exchange Commission of Pakistan (SECP), the company confirmed the issuance of 376.91 million ordinary shares at a par value of Rs10 per share. The transaction was carried out under Section 83(1)(b) of the Companies Act, 2017, following regulatory approvals.
As a result of this issuance, MMM Holding (Private) Limited’s stake in Baluchistan Glass has increased to 93.59%, holding a total of 597.56 million shares. The company’s overall paid-up capital has now expanded to Rs6.38 billion, comprising 638.51 million ordinary shares.
Balochistan Glass Limited was incorporated in Pakistan as a public limited company in 1980, and is engaged in manufacturing and sale of glass containers, glass table wares and plastic shells.
