Exploring financial options for SEARL Pakistan Limited

In a notification sent to PSX on 17/04/2024, Searle Pakistan Limited (SEARL) has announced that it is exploring strategic funding paths for Searle Pakistan Limited.

At a meeting of the Board of Directors of The Searle Company Limited (the “Company”) held on April 17, 2024, the Board discussed, considered, and authorized the Company to explore the feasibility/viability of generating funding/liquidity in respect of its subsidiary, namely Searle Pakistan Limited (“SPL”), by pursuing one or more of the following transactions i.e. (a) reconsider listing of SPL on PSX, following Rule 5 of the Rule Book of PSX by way of an initial Public Offering (IPO) following Public Offering Regulations, 2017 (b) seeking equity investment into SPL through strategic equity partner under a joint venture arrangement or (c) strategic sale of SPL or its business and (d) placement of one of SPL with multiple investors through private placement process.

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The shares of SEARL were last trading at Rs.59.66 today.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →