Lucky Cement to raise equity funds through GDR: expansion plan okayed

The board of directors of Lucky Cement Company Limited has approved the expansion plan of two additional lines of cement manufacturing at the Karachi project with the combine production capacity of 2.5 million tons per annum.
The board, in its meeting held here on Tuesday, also considered and give go-ahead to raising equity funds through Global Depository Receipts (GDRs) in the international market at an appropriate time for financing the capital expenditures subject to the final approval by shareholders, Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP).
In an information, sent to the Karachi Stock Exchange (KSE), it was said that for getting the approval of shareholders of the company, an extraordinary general meeting of the company would be held on August 7 at the registrar office of the company.