Crestwell Healthcare Announces Rs. 535 Million Right Issue

Crestwell Healthcare Limited, initially named S.G. Power Limited, has revealed plans for a 300 percent right issue. This move entails offering 53.5 million ordinary shares to current shareholders at a price of Rs. 10 per share, as per a notice sent to the Pakistan Stock Exchange. Through this issuance, the company will distribute 53,499,600 new ordinary shares at par value.

Existing shareholders have the opportunity to purchase three additional shares for each share they hold as of the close of business on August 19, 2026. If all shares are subscribed to, the right issue is expected to raise roughly Rs. 535 million. The rights granted with these shares are identical to those of the company's existing ordinary shares, including voting rights.

These rights have been approved by the Central Depository Company of Pakistan and will be tradeable on the Pakistan Stock Exchange starting from August 24 until September 7, 2026. For shareholders to accept and pay for these rights, the deadline is September 14, 2026. The company has designated Meezan Bank to manage the right issue, with payments being made through its branches nationwide.

The timeline also specifies August 27 as the final day for submitting letters of rights and September 28 as the day for the allotment and credit of the new shares into the Central Depository System. Shareholders who choose not to subscribe can renounce their rights to another eligible investor, provided they follow the necessary procedures.

After the payment of the subscription amount, the corresponding letter of rights will cease to be tradable. The right issue is being carried out in compliance with the Companies Act, 2017 and the Companies (Further Issue of Shares) Regulations, 2020, with all required approvals and formalities having been completed.