Pervez Ahmed Securities Ltd Proposes Rights Issue; to Invest in New Subsidiary

Pervez Ahmed Securities Ltd announced that its Board of Directors has recommended the issuance of 146,700,060 ordinary shares at PKR 2 per share, i.e. 80% discount to the par value of PKR 10 per share, to the existing shareholders of the Company in proportion of 189.394068 right shares for every 100 shares held by them. The Company's management has also proposed setting up a wholly owned subsidiary named Trendy Designs (Private) Limited with a capital of PKR 75 million to enter the retail market.