PAEL gives approval for foreign subsidiary in UAE

In a notification sent to PSX on 04/04/2024, Pak Elektron Limited (PAEL) has announced that the board approved thee planned UAE subsidiary for trade expansion.

The Board of Directors of PAK ELEKTRON LIMITED in its meeting held on April 04, 2024
has accorded its approval for incorporation of a wholly owned foreign subsidiary in the
UAE, subject to all applicable regulatory approvals.
The subsidiary will be primarily engaged in commercial trading with import, export,
distribution and warehousing as its ancillary activities.
Pursuant to the requirements of the Securities Act, 2015, the Company has duly caused
this form/statement to be signed on its behalf by the undersigned hereunto duly
authorized.

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The shares of PAEL were trading at Rs. 22.32 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 →