Fast Cables shareholders approve Rs748m IPO funds for working capital
Shareholders have approved the utilization of surplus initial public offering (IPO) proceeds of Rs747.763m towards the working capital requirements of Fast Cables Limited (PSX: FCL).
October 22, 2026 (MLN): Shareholders have approved the utilization of surplus initial public offering (IPO) proceeds of Rs747.763m towards the working capital requirements of Fast Cables Limited (PSX: FCL). The amount is part of the total IPO proceeds of Rs3.130bn raised by the company in 2024. The approval also covers the return earned on the surplus proceeds, which stood at Rs328.976m as of June 30, 2026, and any...