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SOE announces rights issue to turn its fortunes around

20 1
24.01.2025

ISLAMABAD: Amid government efforts for rightsizing of loss-making entities, the Pakistan En­­gineering Company Ltd (PECO), a public-listed state-owned enterprise (SOE), has announced a rights issue aimed at restoring the company’s financial health.

A rights issue is when a company offers its existing shareholders the chance to buy additional shares for a reduced price.

According to its website, PECO is an engineering company that manufactures high quality steel re-rolled material and light engineering products, and is controlled by the Ministry of Industries and Production.

In a statement, the company’s board........

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