KSB Pumps Company Limited Confirms Receipt of PKR 1.15 Billion from German Shareholder for Right Issue

Business & Finance

Karachi: KSB Pumps Company Limited, a major player in the industrial pumps sector, has announced the successful subscription of PKR 1,146,513,830 for its right shares issue. This substantial investment was made by KSB SE and Co. KGaA, Germany, its major shareholder, on July 8, 2024.

The funds represent the entitlement of 10,422,853 right shares at an exercise price of PKR 110 per share, accounting for 58.89% of the total right issue as permitted under the Companies (Further Issue of Shares) Regulations, 2020. According to information available from the Pakistan Stock Exchange (PSX), this move underscores the German shareholder's continued commitment and confidence in the financial health and strategic direction of KSB Pumps.

An Auditor's Certificate dated July 9, 2024, from M/s. A.F. Ferguson and Co., Chartered Accountants, has been issued, confirming the receipt of the subscription amount. This certification is crucial for the updated paid-up capital documentation and will be submitted to both the Pakistan Stock Exchange and the Central Depository Company of Pakistan Limited.

This financial development is significant for KSB Pumps as it continues to solidify its market position and capital structure, ensuring sustained growth and stability in its operations.