Engro Corp (ENGRO) underwent significant insider purchases last week. Engro Corporation announced on July 20, 2018 that it has finalized terms to sell 29% share of Elengy Terminal Pakistan Limited’s (ETPL) total shares outstanding. Selling value of 29% ETPL shares is PKR 4,864m (USD 38m). This sale will add to the already high cash position of the company, which was around PKR 65.6bn as at June 2018 end.
IGI group was yet again involved in purchases of its companies, Packaged Limited (PKGS) and IGI Holdings (IGIHL).
Other significant purchases include TPL Properties (TPLP), Avanceon (AVN), Pakistan Oilfields (POL) and Fauji Fertilizer (FFC).
Avanceon Ltd. Avanceon Limited is a provider of industrial automation, process control and systems integration, as well as energy management solutions. The Company's segments are After Marketing Support (AMS), Core Business, Specialized Business, Engineering services, and Middle East and USA. The AMS segment is engaged in the provision of services as technical supports and service level agreements and related spares. The Core Business segment includes Application Based Solutions (ABS), Systems and Products. ABS sales include the supply of systems, power products, variable speed drives and variable frequency drives. Systems sales are embedded solutions of multiple original equipment manufacturers (OEM) equipment. Products segment includes sales of motors, analyzers and other specialized products of OEMs. The Specialized Business segment includes Energy Management Systems and High End Solutions. It provides solutions to various industries, such as oil and gas, chemicals and pharmaceuticals.
Engro Corporation is an agri based company. Co.'s core business is the manufacturing, purchasing and marketing of chemical fertilizers and seeds. Co. is engaged in the production of Urea fertilizer in Pakistan which is manufactured at Daharki and marketed under brand name Engro. Co. also maintains a seed business and is marketing imported hybrid and open pollinated seeds of maize and sunflower crop under the brand name of Bemisal. Co. has investments in joint ventures engaged in chemical terminal and storage, PVC resin manufacturing and marketing and Automation and Controls businesses.
Fauji Fertilizer is engaged in the manufacturing, purchasing and marketing of fertilizers including the investment in other fertilizer manufacturing operations. As of Dec 31 2004, Co. had a design capacity of 2,455,000 tonnes for urea production and 445,000 tonnes for DAP production.
IGI Holdings Ltd, formerly IGI Insurance Limited, is a Pakistan-based holding company. The Company, through its subsidiaries, is engaged in general insurance, securities and life insurance business. It operates through four segments: non-life insurance, life insurance, brokerage business and investment business. Its subsidiaries include IGI Life Insurance Limited (IGI Life), IGI Finex Securities Limited (IGI Finex), IGI General Insurance Limited (IGI General), IGI Investment (Pvt.) Limited (IGI Investments). IGI Life is engaged in life insurance business. IGI Finex is engaged in shares and commodities brokerage, money market and foreign exchange brokerage and advisory and consulting services. IGI General is engaged in general insurance business and General Takaful (Islamic Insurance). IGI Investments is an investment holding company engaged in investing, acquiring, selling and holding investments.
Co. is a holding company which, through it subsidiaries, operates two businesses: packaging, and inks and lacquers. Co.'s packaging division is engaged in the manufacture and sale of paper, paperboard, packaging materials and tissue products. Co.'s inks and lacquers division manufacture and sale finished and semi finished inks and lacquers.
Co. and its subsidiaries are principally engaged in the exploration, drilling, production and sale of crude oil and gas and other products.
TPL Properties Limited is a Pakistan-based company, which is engaged in investing, purchasing, developing and building real estate and selling, renting out or otherwise disposing off the real estate, including commercial and residential buildings, houses, shops, plots or other premises. The Company's project is Centrepoint, which is a 28-storied project that has been constructed on approximately 26,226 square feet of land, opposite to KPT Interchange on Shaheed-e-Millat Expressway and has approximately 197,810 square feet of rentable space. The total project area is approximately 356,164 square feet. Its building offers facilities including built-in information technology infrastructure, security and fire safety, approximately nine floors of parking and an in-house power generation unit. It also features a health club, a swimming pool, a coffee bar and reception spaces making it a rental choice for end corporations. The Company's holding company is TPL Holdings (Pvt.) Ltd.
Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.
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