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Karachi, Modaraba Al-Mali has announced its decision to issue further capital through a right issue. The Board of Directors reached this resolution during their meeting held on March 29th, 2023. The right issue entails offering 11,392,970 modaraba certificates at a price of Rs. 10/- per certificate, totaling Rs. 908,169,150/-.
Under this offering, shareholders will have the opportunity to purchase 14.34 right modaraba certificates for every 100 existing modaraba certificates they hold, each valued at Rs. 10/-. These newly issued certificates will enjoy equal rights and privileges as the existing certificates.
To facilitate this process, the Share Transfer Books of Modaraba Al-Mali will be closed from May 23rd, 2023, to May 29th, 2023, inclusive. During this period, shareholders will have the opportunity to subscribe to the right modaraba certificates by paying the subscription price to the Modaraba.
Investors and shareholders are encouraged to stay updated with further announcements from Modaraba Al-Mali regarding the right issue and take advantage of this opportunity to participate in the company’s future growth prospects.