KSB Pumps Company Announces Comprehensive Rights Issue Schedule

Karachi: KSB Pumps Company Limited has outlined a detailed schedule for its upcoming rights issue, announcing significant procedural steps to facilitate shareholder participation, effective from July 18, 2024. This announcement follows the company’s application for the issuance of right shares, as per the compliance standards of the Central Depository Company (CDC) and Pakistan Stock Exchange (PSX) regulations.

According to information available from the Pakistan Stock Exchange (PSX), the rights issue involves the offering of 17,700,000 ordinary shares at Rs. 110 per share, which includes a premium of Rs. 100 per share. These shares will be issued to shareholders registered by the close of business on July 3, 2024, in the ratio of 134.0909 ordinary shares for every 100 shares held.

The schedule released by KSB Pumps details several critical dates, starting with the credit of unpaid rights into CDC in book entry form set for July 11, 2024. The rights will commence trading on the PSX on July 18, 2024, with the last trading day on August 8, 2024. The final date for the acceptance and payment for the rights offer is set for August 16, 2024, with the shares scheduled to be credited into shareholders’ CDC accounts by September 5, 2024.

KSB Pumps has also facilitated an online payment option through the 1Link system, allowing shareholders to easily make payments for rights subscriptions through internet banking, ATMs, and mobile banking. This modern approach aims to streamline the process and ensure efficient participation from both local and international shareholders.

Further, the company emphasizes that all fractional entitlements from the rights issue will be consolidated and sold on the PSX, with the proceeds proportionally distributed to entitled shareholders. This method ensures that all shareholders receive their due benefits from the rights issue.

This rights issue by KSB Pumps Company Limited not only aims to bolster the company’s capital but also provides an opportunity for shareholders to enhance their investment under favorable terms, reflecting the company’s growth-oriented strategy and commitment to shareholder value.