SOE announces rights issue to turn its fortunes around
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........
© Dawn Business
