MARI greenlights Rs. 2.5 billion equity investment in MMC
In a notification sent to PSX on 29/04/2024, Mari Petroleum Company Limited (MARI) announced the investment in Mari Mining Company Ltd (MMC) through equity investment.
The Board of Directors of Mari Petroleum Company Limited (“MPCL”) in its meeting held on April 26, 2024, has approved an investment of up to Rs. 2.5 billion by MPCL in MMC by way of equity injection. The investment will be made by MPCL in tranches spread over two years by subscribing to the right issue of MMC shares.
MMC is a wholly owned subsidiary of MPCL, which was established in July 2023 to undertake mineral mining projects in Pakistan and to contribute to the growth of the mineral mining sector of the country.
The shares of MARI were last trading at Rs. 2818.44 today.
📢 Announcement: We're Moving to Discord – Join Us There!
Hi everyone! 👋
To improve your experience and offer additional features, we’re moving our community from WhatsApp to Discord!
Here’s what you’ll get on Discord:
✅ Research Reports Channel – Access a regularly updated compilation of valuable research reports
✅ PSX24/7 Bot – Ask anything about the PSX and get instant insights powered by KSEStocks historical data
✅ Organized Channels – Separate spaces for discussions, news, reports, and more
✅ Better Notifications – Control what you see and when
✅ Smoother Interaction – Easier to follow and participate in conversations
✅ Organized trading ideas - trading ideas that you can discuss and keep track of
Join now 👉 https://discord.gg/kST9hWjS
⚠️ 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 →
Leave a Reply