July 23, 2026 (MLN): Bestway Cement Limited (PSX: BWCL) has apprised the bourse that the Board of Directors of Bestway Automotive (Private) Limited (BAL), a subsidiary of BCL, decided in its meeting held on July 22, 2026 to increase its paid-up capital by issuing further shares to existing shareholders.
Consequently, BAL has intimated BCL for subscription of 599,990,000 right shares for consideration and decision.
The Board of Directors of BCL considered the proposal and unanimously decided to place the matter before shareholders for acceptance or rejection of the right offer in the upcoming Annual General Meeting, keeping in view BAL's projected enhanced capital requirements and other available opportunities.
The Annual General Meeting (AGM) of BCL will be held on August 31, 2026.