In a notification sent to the PSX on 05/03/2024. Treet Corporation Limited (TREET) is ready to sell some of its stake in its subsidiary Treet Battery Limited (TBL).
The company’s board announced that it plans to sell an 11.334% stake in TBL by way of the sale of shares in the open market. A reminder here that Treet Battery was recently listed on the PSX at the price of Rs. 10 per share. Its share price rose as high as Rs. 63.92 since listing. This extraordinary rise in share price was also questioned by the PSX and TBL responded by denying any knowledge as to why the share price rose that high.
The 11.334% stake in TBL will either be sold at the market price on the day of the sale, or through a Negotiated Deals Market(NDM) transaction at a price deemed suitable by the management.
TREET shares were last trading at Rs. 18.24 at market close while TBL shares closed at Rs. 44.96 per share.
Shifa International (SHFA) has already rallied 150%, but there is still more upside to the…
The closure of the Hub Power Company Limited (HUBC) plant marks a significant shift in…
Fatima's 2QCY24 financial performance reflects a challenging quarter, marked by a significant decline in profitability…
Habib Metropolitan Bank Limited (HMB) recently released its second-quarter results for 2024, revealing a mixed…
In the oil and gas sector, the longevity of reserves is a critical measure of…
Cherat Cement Company Limited (CHCC) has recently released its financial results for the fourth quarter…