Karachi: Bawany Air Products Limited has announced the book closure period for the issuance of rights shares, as per a newspaper cutting released in both English and Urdu. The book closure is scheduled to occur from June 3, 2025, to June 10, 2025, inclusive of both days. This measure is aimed at determining shareholder entitlements to the rights shares, which are being issued at a par value of Rs. 19 per share.

The share transfer books will be closed to ascertain the entitlement of shareholders to the right shares at a par value of Rs. 10 per share. The rights issue is set at a ratio of 7997.32 rights shares for every 100 shares held, translating to a 7997.32% entitlement. Only transfers received at the registrar's office in Karachi by the close of business on June 2, 2025, will be considered eligible for entitlement to the transferees.

According to information available from the Pakistan Stock Exchange (PSX), the designated market category for this announcement is the issuance of rights shares. The rights issue represents a significant move by Bawany Air Products Limited to raise capital and potentially expand its operations or services.

The closure period and the entitlement criteria are critical for shareholders and potential investors who wish to participate in the rights issue. The company's decision to set such specific terms underscores the importance of this financial maneuver in their broader corporate strategy.