Karachi, Merit Packaging Limited informed Pakistan Stock Exchange that the Board of Directors of the Company at their meeting held on September 14, 2021, have decided to offer 119,330,029 right shares, i.e. 148% at a price of Rs. 12.50 per share to the existing members of the Company in proportion of 1.48 ordinary shares for every 1.00 ordinary share held including a premium of Rs. 2.50 per share.
Further, the share transfer books of the company will remain closed from October 12, 2021 to October 21, 2021 (both days inclusive).
Merit Packaging Limited was incorporated on January 28, 1980 in Pakistan as a public limited company. The Company is mainly engaged in the manufacture and sale of printing and packaging materials.
Merit Packaging Limited, associated with the Lakson Group of Companies. It operates a single factory in Karachi with an additional facility in Lahore. Its headquarters are located at Lakson Square, Karachi, Pakistan.
The total number of shares are 80,628,398. The Earnings per share is (8.59) in 2020 which was (3.85) in 2019. The Company had a loss of Rs. 692,679,000 in 2020 which was 310,536,000 in 2019.