Habib Rice Products Limited (PSX: HRPL) has secured an unsecured loan of $500,000 from its sponsor shareholder, Gaffar A. Habib, to support the company’s working capital requirements.
In a notice submitted to the Pakistan Stock Exchange (PSX), the company said the financing has been arranged to strengthen liquidity and ensure sufficient funds for its operational needs.
The company stated that the loan is unsecured and has been provided by the sponsor shareholder without any collateral. The financing will be utilized to meet the company’s short-term working capital requirements.
Habib Rice said the transaction has been undertaken in accordance with applicable regulatory requirements and will help support its day-to-day business operations.
The company did not disclose the repayment schedule or any additional terms of the loan in its filing.
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.