The Board of Directors of Matco Foods Limited (PSX: MFL)), in its meeting held on November 25, has accorded its approval for exploring and evaluating strategic options to raise growth capital for its Corn Starch Division.
MATCO said in a stock filing that this would be done in a manner that will best support its ongoing operations, strategic investments, and expansion plans.
To support this process, the Company has engaged Bank Alfalah Limited as its financial advisor. “We shall keep our shareholders updated with respect to the potential investment by making further announcements as and when the matter progresses,” the company added.
The principal activity of the Company is to carry out the business of processing and export of rice, rice glucose, rice protein, pink salt, masala, and kheer.