Dawood Lawrencepur Limited announced on Tuesday that it will invest Rs. 15 million in the right issue announced by Reon Alpha (Private) Limited.
In a notice to the Pakistan Stock Exchange (PSX), the company said that its Board of Directors, through a circular resolution passed on September 19, 2023, has approved an investment of Rs. 15 million in the right issue announced by Reon Alpha (wholly owned subsidiary company) comprising of 1,500,000 shares of Rs. 10 each.
“The closed period has been terminated with the dissemination of above material information,” the notice reads.
Dawood Lawrencepur manages investment in its subsidiaries and associated companies and is engaged in the business of trading and marketing renewable energy solutions, mainly solar, to commercial and industrial consumers, along with the legacy textile business.