Karachi, IBL Healthcare Limited informed Pakistan Stock Exchange that 100% amount from proceeds of the right issue have been utilized towards the projects submitted for the issue, agreement is now made with the Principal and order is also placed for the same. Further, some of the cases are under enlistment process under DRAP and approval is awaited.
The company was incorporated in Pakistan as a private limited company on July 14, 1997. In November 2008 the Company was converted into a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The company is a wholly owned subsidiary of Searle Pakistan Limited. The principal business activities of the company are marketing and selling, distribution of healthcare products. The shares of the company are quoted on the Karachi Stock Exchange. The registered office of the company is located in Karachi.
The portfolio of the company includes divided into three distinct categories, namely Nutritional Products, Plasma Protein Components and Hospital Disposables. The company is the major partner of globally recognized multinational organizations having expertise in their respective fields of health care products. The partners of the company include MeadJohnson Nutritionals – USA, Tyco Health Care – USA, Intersurgical – UK, Terumo – Japan and Molnlycke – Sweden.
The symbol “IBLHL” is being used by the stock exchanges for the shares of IBL Healthcare Limited.