Engro Corp Plans Investment Deals in Other Countries Over Next 5 Years

Engro Corporation Limited (PSX: ENGRO) plans to expand its investment portfolio in developing countries over the next five years, reported Bloomberg. Vice Chairman of Dawood Hercules Corp. (PSX: DAWH) Abdul Samad Dawood said in an interview that Engro aims to explore investment opportunities beyond its traditional sectors within Pakistan. With a market-leading presence in various sectors including dairy production, LNG terminals, and telecommunication towers, Engro boasts foreign partnerships with firms like FrieslandCampina and Royal Vopak. On 3 May 2024, the Board of Engro Corp gave in-principle approval of the proposed restructuring of Engro Corp and DAWH by way of a Scheme of Arrangement. Both companies will now finalize the terms of the proposed restructuring and jointly appoint advisors for a Scheme of Arrangement to be presented to the respective Boards for approval and execution. Notably, DAWH shares have surged over 60 percent this year. At the time of filing, ENGRO’s scrip at the bourse was Rs. 361.76, up 0.47 percent or Rs. 1.68 with a turnover of 246,624 shares on Wednesday.