Avanceon increases paid-up capital after issuing 2.19 million shares under employee stock option scheme

Avanceon Limited has increased its paid-up capital to 429,667,346 shares after issuing 2,191,890 shares to eligible employees under its Employees Share Option Scheme (ESOS)-2022.

According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday, the company’s paid-up capital increased from 427,475,456 shares following the allotment through the fifth issue under the ESOS-2022 programme.

The company stated that the shares were allotted to employees who exercised their share options under the scheme.

Avanceon said the issuance was carried out without a right offer under Section 83A of the Companies Act, 2017, after obtaining approval from the Commission/Registrar through a letter dated February 9, 2022.

The company also disclosed that the closing market price of the shares on May 22, 2026, the date the shares were credited into employees’ CDC sub-accounts, stood at ₨34.01 per share.

Separately, the Central Depository Company of Pakistan Limited (CDC) confirmed that 2,191,890 securities of Avanceon Limited had been credited into the respective accounts in the Central Depository System at the close of business on May 22, 2026.

In its communication to Avanceon Chief Executive Officer Ahsan Khalil, the CDC stated that the company’s updated paid-up capital now stood at 429,667,346 securities according to its records.