International Steels To Exit Chinoy Engineering Venture
International Steels Limited (ISL) has recommended the sale of its entire 17% stake in Chinoy Engineering & Construction (Pvt) Limited … Read More The post International Steels To Exit Chinoy Engineering Venture appeared first on ProPakistani .
International Steels (ISL) has proposed the sale of its 17% share in Chinoy Engineering & Construction (Pvt) Limited (CECL) for Rs. 350 million, pending regulatory clearances. According to a notice submitted to the Pakistan Stock Exchange on August 20, ISL's board recommended the sale of 4.845 million of its ordinary shares in CECL at Rs72.24 each, totaling Rs.
350 million. The deal requires shareholder approval at ISL's upcoming 19th Annual General Meeting on October 5, 2026. Regulatory clearance is also mandatory. ISL explained that the annual general meeting notice will be issued soon. CECL, founded in 2024, is a joint venture of International Industries Limited (IIL), Pakistan Cables Limited (PCL), and ISL, focusing on construction and engineering projects.
These activities include design, construction, demolition, and infrastructure development. ISL is Pakistan's leading flat-steel manufacturer, producing cold-rolled, galvanized, and color-coated steel products for industrial and commercial use.
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