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Islamabad, Arpak International Investments Limited has disclosed its decision to subscribe to 5,000,000 ordinary shares, valued at Rs. 10 each, of Premier Grain Ethanol Limited, a newly incorporated company specializing in the manufacturing and sale of ethanol and related products. This investment announcement was made following a Board of Directors meeting held on March 15, 2024, aligning with the requirements of Section 96 of the Securities Act, 2015, and Clause 5.6.1 (a) of Pakistan Stock Exchange (PSX) Regulations.
Premier Grain Ethanol Limited has been established to engage in a wide range of activities related to ethanol production, including manufacturing, production, formulation, extraction, treatment, blending, refining, purification, distillation, fermentation, reduction, dehydration, rectification, preparation, processing, and sale. The company will utilize various types and grades of grains as raw materials for its products and by-products.
The total paid-up capital of Premier Grain Ethanol Limited is set to be Rs. 650.02 million, divided into 65.002 million ordinary shares of Rs. 10 each. Arpak International Investments Limited will contribute an 8% shareholding to the new company, amounting to Rs. 50 million.
This strategic investment by Arpak International Investments Limited in Premier Grain Ethanol Limited signifies a notable expansion in the ethanol production industry, reflecting the companies’ commitment to growth and innovation within this sector.