One of the largest Domestic Pharmaceutical Company, ‘SEARLE’ plans to list its subsidiary on the Pakistan Stock Exchange (PSX).
At its meeting, the board of directors decided that the shares of Searle Pakistan Limited (formerly Searle Pakistan (Private) Limited), a wholly owned subsidiary of the SEARLE, will be listed on PSX, Searle Company Limited announced in a statement sent to PSX on Wednesday.
The company has announced its intention to issue a maximum of 349,010,000 common shares in the IPO in accordance with the strike price set by Searle Pakistan Limited according to the 2017 Listing Rules.
Searle Company Limited was founded as a limited liability company in 1965 and converted to a public limited company in 1993. The company manufactures pharmaceuticals and other consumer goods; International Brands Limited is a holding company that owns over 56% of the company’s shares.
SEARLE’s Total Assets stands at Rs.41 billion while it had Gross Sales of Rs. 12 billion in the first Nine Months of Fiscal Year 2021.
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