Karachi, Unity Foods Limited informed Pakistan Stock Exchange that the Company has announced its second Right Issue on February 19, 2019. The issue constituted 375 million shares at face value of PKR 10 each raising PKR 3,750,000,000. At the time of announcement of Right Shares, the Company had 169,050,000 ordinary shares and each of the then existing share was entitled to about 221.83% right shares.
The Right Issue was successfully closed as per approved schedule of PSX and the proceeds were realized in May, 2019. Thereafter, the Company issued 375 million shares.
Unity Foods Limited was incorporated in Pakistan in 1991 as a Private Limited Company and subsequently converted into a Public Limited Company on June 16, 1991. The principal business activity of the Company has been changed from yarn manufacturing to edible oil extraction, refining and related businesses.
The total numbers of shares are 994,050,000. The earnings per share is 0.39 in 2020 which was 1.03 in 2019. The profit after Taxation is 209,629,000 in 2020 which was 255,075,000 in 2019.