Sakrand Sugar Mills completes transfer of 25% stake to incoming investors as part of its revival plan
Transaction forms part of company’s revival plan and was completed after receiving required regulatory approvals.
Sakrand Sugar Mills Limited has completed the transfer of a 25% equity stake to incoming investors as part of its revival plan.
The company told the Pakistan Stock Exchange on July 22 that the shares were acquired from existing sponsors and directors after the required regulatory approvals were obtained.
The Board of Directors had previously approved the revival plan, which included bringing in new investors through the sale of the 25% stake.
Sakrand Sugar Mills said completion of the transaction marked progress in implementing the plan. The company did not disclose the identity of the investors or the value of the share transfer.
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