Unity Foods Reduces Stake in Al Shaheer Corporation

Karachi: Unity Foods Limited has reported a significant transaction involving the sale of shares in Al Shaheer Corporation Limited by its subsidiary, Sunridge Foods Private Limited.

According to information available from the Pakistan Stock Exchange (PSX), on July 29, 2024, Sunridge sold 10,000,000 voting shares of Al Shaheer Corporation. This sale has decreased Sunridge’s total shareholding in Al Shaheer to 59,064,774 shares, which now represents 15.75% of the total issued voting shares of the corporation.

This move aligns with the financial strategies and regulatory compliance measures outlined in the Securities Act of 2015 and the PSX Regulations. Unity Foods Limited has ensured that all pertinent information regarding the transaction has been disclosed to the TRE Certificate holders of the exchange as required.

The transaction marks a notable adjustment in Unity Foods Limited’s investment portfolio and reflects its ongoing management of assets and subsidiary engagements.