KARACHI: On Tuesday, a number of parties declared their plans to purchase 277,070,908 shares of Unity Foods Ltd (UFL). These parties included Wilmar Pakistan Holdings Pte Ltd (WPH), a wholly owned direct subsidiary of Wilmar International Ltd (WIL), Unity Wilmar Agro (Pvt) Ltd (UWA), a subsidiary of WPH, and certain shareholders of UFL.
In accordance with the pricing formula and other relevant Pakistani laws and regulations, such as the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2017 (PAI), the UFL notified the Pakistan Stock Exchange (PSX) that the offer was made through Arif Habib Ltd, the public offer manager.
UFL primarily produces and processes industrial fats, flour, and a variety of feed additives for Pakistan’s livestock and poultry industries.
Reaffirming its commitment to Pakistan’s economy with its investment in UFL, WIL, a prestigious Fortune 500 company, shows faith in the durability and potential of Pakistan’s economic landscape. WIL holds the ultimate power to acquire or control shares in WPH. With an effective 52 percent equity interest, it also holds control of UWA.
Asia’s top agribusiness group is WlL, which was established in 1991 and has its headquarters in Singapore. Oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, consumer product manufacturing, ready-to-eat meals, central kitchen products, specialty fats, oleochemicals, biodiesel, fertilizers, and food park operations are among the business activities carried out by WIL and its group companies (Wilmar Group).
Wilmar Group can extract profits at every stage of the value chain, resulting in operational synergies and cost economies, thanks to its scale, integration, and logistical advantages.
Wilmar Group, which employs around 100,000 people worldwide, is committed to sustainability in all aspects of its supply chain, global operations, and community involvement.
Wilmar Pakistan Holdings Pte. Ltd. and its partners anticipate that this planned increase in shareholding would make a major contribution to Unity Foods Limited’s expansion and prosperity as well as the overall growth of the Pakistani economy.
