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LAHORE: Service Fabrics, a shell company recently acquired by a manufacturer of industrial and medical gases and medical purpose glass tubes and vials, aims to raise $15 million through an issue of right shares in a fast-track corporate revival plan as a sign of increased capital market fundraising activity in Pakistan.
The company in a recent filing has informed the Pakistan Stock Exchange that it will issue a further 234,116,328 ordinary shares at par value (ie at Rs10 each) by the issue of right shares to be offered to the members in proportion of approximately 1,486 right shares for every 100 ordinary shares held.