KARACHI: Trading in the shares of GlaxoSmithkline Consumer Healthcare Pakistan Limited commenced at the Pakistan Stock Exchange (PSX) on Wednesday, as the CEO of the company Sohail Matin rang the traditional gong.
Speaking on the occasion, Matin said separating consumer healthcare business from the pharmaceutical business was a global initiative of GSK. “Urban population is increasing in Pakistan due to which the demand for consumer goods is rising and it all bodes well for the company’s business,” he added.
GSK Pakistan separated its consumer healthcare business into a new entity, GSK CH Pakistan in April 2016. The purpose of carving out its consumer healthcare division is to manage its core business with greater focus.
Shareholders of GSK Pakistan were issued three shares of GSK CH Pakistan for every 10 shares held by them, as per the scheme. Now, both GSK Pakistan and GSK CH Pakistan are being traded separately. The share was listed at a price of Rs61.98 and it hit the upper lock on the first day of trading.
State Bank of Pakistan building in this undated image. — SBP/FileKARACHI: The State Bank of Pakistan on Thursday...
The signing ceremony took place during the BYD Asia Pacific dealer conference event in Xi’an
The image shows a person in Pakistan receiving money from a person in Dubai. — Facebook/Bank AL Habib LimitedLAHORE:...
The MoU was signed by Omer Bin Tariq, country head of Onic Pakistan, and Imran Saleem, general manager ride hailing at...
A representational image of gold bangles. — AFP/FileKARACHI: Gold prices increased by Rs1,500 per tola on Thursday...
US flags hoisted outside the National Mall in Washington, DC. — AFP/FileWASHINGTON: The US economy grew faster than...