Ghani Chemical increases stake in G3 Technologies to 15.93%

KARACHI: Ghani Chemical Industries Limited (GCIL) has bought additional 22.8 million shares in G3 Technologies (formerly Service Fabrics) increasing its stake in the associated company to 15.93 per cent.

Ghani Chemical Industries Limited (GCIL) has invested Rs228 million in G3 Technologies Limited (GTECH), a bourse filing from Ghani Global Holding Limited said on Friday.

“GCIL, one of the subsidiary companies of Ghani Global Holding and the largest manufacturer of medical and industrial gases in Pakistan, has invested Rs.228 million in G3 Technologies Limited (GTECH/formerly Service Fabrics Limited) an associated undertaking against purchased of 22.8 million shares on December 2, 2021 at Rs10 per share through NDM market,” the filing stated.

The GCIL’s aggregate investment in GTECH is now 39.8 million shares i.e., 15.93 per cent of total paid up capital of GTECH.

It may be mentioned here that G3 Technologies has recently announced the plans for the investment in the setting up of two manufacturing plants, one for supercapacitor green energy storage devices and the other for a calcium carbide chemical plant.

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