ISIL sets up a subsidiary for food products manufacturing in Abu Dhabi

In a notification sent to PSX on 28/06/2024, Ismail Industries Limited (ISIL) announced that it is to begin the regulatory process for Abu Dhabi subsidiary.

The Board of Directors has resolved to establish / set-up a wholly owned subsidiary of the Company in Abu Dhabi, UAE (“Subsidiary”). The Subsidiary is intended to, inter alia, undertake manufacturing, marketing, sales, distribution, of all kinds of food products, including but not limited to biscuits and confectionery and allied products. The Company will accordingly seek all necessary regulatory approvals and proceed with the incorporation process once the same has been obtained.

ISIL shares were trading at Rs 1483.90 today.