LAHORE - Trading in the shares of ICI Pakistan Limited will resume on Lahore Stock Exchange w.e.f. Friday, July 13, 2012.
The Company had an issued share capital of Rs. 1388.023 million divided into 138.802 million ordinary shares of Rs. 10/- each. Out of which Rs. 923.590 million comprising of 92.359 million ordinary shares has been retained within the Company and the remaining Rs. 464.432 million comprising of 46.443 million ordinary shares of Rs. 10/- each has been transferred as part of the paint undertaking to Akzo Nobel Pakistan Limited as a result of scheme of re-construction of ICI Pakistan Limited through demerger of its paint business on the basis of net asset of this business as disclosed in the financial statements of the Company. The split of the share capital is based on the ratio i.e. 66.54:33.46.
Taking into consideration the total market capitalization on the last day of trading in the shares of ICI Pakistan Limited (before demerger) and the swap ratio, it has been decided that the opening price of the shares of ICI Pakistan Limited will be Rs. 131.07 being the closing price before suspension of trading in the shares of the Company. The normal circuit breakers i.e. 5% or Rs. 1/- whichever is higher on the opening price will be applicable.