KARACHI: Hi-Tech Lubricants Ltd. (HTL) and Osman Ghani Ltd., an Afghanistan based company, have entered into a non-exclusive distribution agreement for export of locally blended ZIC brand products to Afghanistan. “We have widened the scope of HTL’s distribution network beyond the geographical borders of Islamic Republic of Pakistan to cater the increasing demands of HTL’s…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
PSO seeks two LNG import cargoes to be delivered in May 2021
KARACHI: Pakistan State Oil (PSO) has invited bids for two cargoes of liquefied natural gas (LNG) to be delivered in May 2021 amid higher anticipated demand of fuel products in summers. The first delivery window is May 20-21 and second delivery window is May 25-26, 2021 on delivered ex ship (DES) basis. A day earlier,…
Pakistan CAD narrowed to USD 50mn in Feb’21, down 75% YoY
Current Account Deficit (CAD) for the month of Feb’21 was down by 75% YoY to USD 50mn or 0.2% of the GDP compared with deficit of USD 197mn during Feb’20. On YoY basis, the primary reason behind the decline in deficit was 8% YoY (USD 186mn) and 24% YoY (USD 441mn) rise in total exports…
Ismail Industries makes equity investment in PET resin plant
KARACHI: Ismail Industries Limited will make an equity investment of Rs1.5 billion in a recently incorporate subsidiary Ismail Resin Private Limited, which intends to setup a polyester resin (PET Resin) plant. Ismail Resin intends to setup PET Resin manufacturing plant with a capacity of 108,000 tons/annum keeping in view of growing demand of it. This…
SEWL signs another Chinese automaker to assemble/sale its cars in Pakistan
KARACHI: Sazgar Engineering Works (SEWL) has signed an agreement with a renowned Chinese automobile manufacturer for the manufacture/assembly, sales and after sales service of passenger and commercial vehicles in Pakistan, a bourse filing said on Friday. This vehicle assembly technical and cooperation with the not yet disclosed Chines automaker is in addition to an agreement…
Lucky’s greenfield cement plant in Iraq commences commercial operations
KARACHI: Lucky Cement notified the bourse on Thursday that the greenfield cement production facility in Samawah, Iraq with a capacity of 1.2 million tons/annum commenced its commercial operations with effect from March 10, 2021. The said cement production facility is a joint venture with between Lucky Cement and Al-Shamookh group of Iraq. Consequent to this…
Hub Power to acquire upstream operations, renewable assets of ENI in Pakistan
KARACHI: Hub Power Holdings Limited (HPHL), a wholly owned subsidiary of The Hub Power Company Limited (Hubco), together with ENI’s local employees (in a 50:50 joint venture), has executed definitive agreements to acquire all the upstream operations in Pakistan of ENI and renewable energy assets owned by ENI in Pakistan. ENI is a global energy…
Humayun Bashir elected Chairman of NCCPL
KARACHI: The Board National Clearing Company of Pakistan Limited (NCCPL) has re-elected Humayun Bashir as its Chairman from amongst the independent directors. NCCPL is an infrastructure institution of Pakistan’s capital market, acting as a central counterparty and the only licensed entity providing clearing and settlement services for trades and transactions executed at the securities exchange….
Samba Bank Limited to raise Rs5.0 billion through issuance of TFCs
KARACHI: Samba Bank Limited is raising Rs5.0 billion through Term Finance Certificates (TFCs) to meet its Tier-2 capital requirements. “State Bank of Pakistan (SBP) had granted its final approval to the bank for issuance of rated, privately placed, unsecured and subordinated Term Finance Certificates (TFCs) of Rs5.0 billion,” a bourse filing said. “We are pleased…
PSX signs agreement with NIFT to launch E-IPO system
KARACHI: Pakistan Stock Exchange (PSX) and National Institutional Facilitation Technologies (NIFT) signed an agreement to collaborate in the development of a new payment and registration system by PSX. PSX takes immense pride in announcing another important development for the capital market and its participants to digitally transform the Initial Public Offering (IPO) process through the…
EPCL’s new PVC plant commences commercial operations
KARACHI: Engro Polymer and Chemicals Limited (EPCL) announced that commercial operation date of the new PVC plant of 100,000 tons capacity has been achieved. Engro Polymer and Chemicals Ltd (EPCL) had secured $35 million from the International Finance Corporation (IFC) to fund the expansion plans for its PVC production plant. The IFC financing is a…
TPL Properties to develop Sindh’s first technology park in Karachi
KARACHI: TPL Properties Limited, through its wholly owned Subsidiary G-18 (Private) Limited, has acquired a 10,002 square yards plot in Korangi Industrial Area to develop state-of-art, first ever technology park in Sindh with high end technology facilities. Such infrastructure shall provide a platform to the IT sector across Pakistan. The timeline for the completion of…