Liven Pharma Limited has disclosed its intention to raise Rs200 million through a rights issue to enhance its financial position and support expansion plans. The company made this announcement in a notice to the Pakistan Stock Exchange (PSX) on Friday.
Liven Pharma will issue 20 million ordinary shares at Rs10 per share, which represents about 21.5% of its current paid-up capital. Shareholders will be entitled to 21.496 rights shares for every 100 ordinary shares they hold at the close of the share transfer books.
The funds raised from this rights issue will be used to meet the company’s working capital needs and capital expenditure (CAPEX) requirements, which are essential for sustaining business growth. Specifically, the company intends to invest in a new Dry Powder Injectables division, procure vehicles, and cover costs related to Drug Regulatory Authority of Pakistan (DRAP) registration and licensing.
The issue price, set at Rs10 per share, matches the face value and is in line with the current market price and common practices, according to the disclosure. The company further emphasized that the rights issue is expected to positively affect profitability and returns for shareholders. Major shareholders and directors have confirmed their participation in the rights issue.
Liven Pharma, incorporated as a private limited company in 1991 and later converted into a public limited company, specializes in the manufacturing of pharmaceuticals and allied products.
