Karachi, The Board of Directors of The Searle Company Limited convened on Tuesday to evaluate funding strategies for its subsidiary, Searle Pakistan Limited (SPL). The board authorized exploring several potential financial maneuvers aimed at enhancing liquidity for SPL.
The strategies under consideration include potentially re-listing SPL on the Pakistan Stock Exchange via an initial public offering as prescribed under the Public Offering Regulations of 2017. Additionally, the company may seek a strategic equity partnership or execute a strategic sale of SPL or its business units. Another option would be conducting a private placement of SPL shares to multiple investors.
These deliberations align with the regulatory requirements of Sections 96 and 131 of the Securities Act, 2015, and Paragraph 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited.