Pakistan Company News – Subscription of Right Shares by the Sponsors / Directors of Siddiqsons Tin Plate Limited

Subscription of Right Shares by the Sponsors / Directors of Siddiqsons Tin Plate Limited

Karachi, Siddiqsons Tin Plate Limitedinformed Pakistan Stock Exchange that all the Sponsors / Directors of the Company have subscribed their portion of right shares having an aggregate amount of PKR 1,209,321,852/- (66.85% of the total issue) by June 25, 2018, which is fifteen days in advance of the last payment date.

Siddiqsons Tin Plate Limited is a company operating in Pakistan established in 1999. The company was incorporated on January 29, 1996. The foundations of the company are laid under the Companies Ordinance, 1984. The company has collaboration with SOLLAC of France and Mitsubishi corporation of Japan. The factory of the company is located in Baluchistan with a production capacity of 120,000 tons per annum of Tin Plate. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi. The canning plant is located at Malir, Karachi.

The prioncipal activities of the companies includes manufacturing and sale of tin plates, cans and other steel products. The material is used by companies for making cans and containers for packaging of cooking oil, fruits, foods and vegetables, sea foods, beverages, lubricant oil and edible stuff etc. The company prepares its products using the Ferrostan process technology developed by US Steel.

The symbol “STPL” is being used by the stock exchanges for the shares of Siddiqsons Tin Plate Limited.