Karachi, Engro Polymer and Chemicals Limited informed Pakistan Stock Exchange that the Rights shares offered to the Sponsors of the Company have been subscribed in full, 15 days before the last date of payment (July 23, 2018), as per the requirement of the Pakistan Stock Exchange.
“The company was set up in 1997 by the name of Engro Asahi Polymer and Chemical Ltd. It was a joint venture between Engro Chemical, Asahi Glass Company and Mitsubishi Corporation to set up a 100,000 ton capacity PVC plant at Port Qasim. The plant came into commercial operation in 1999.
In 2006, Asahi Glass divested from the business and Engro Chemical acquired its shareholding. The name of the company was changed to Engro Polymer & Chemicals Limited. The registered office of thecompany is located in Karachi.
Other than producing caustic soda, sodium hypochlorite, EDC and VCM, Engro Polymer & Chemicals Limited is also the manufacturer of PVC resin in Pakistan.
The symbol “EPCL” is being used by the stock exchange for the shares of Engro Polymer and Chemicals Limited.”