The group’s subsidiary and a related company buy around US$15.4 million worth of shares in Unity Foods
WILMAR International has upped its effective stake in Unity Foods, a Pakistan-listed edible oils and industrial fats producer, to 42.17 per cent, the Singapore mainboard-listed agribusiness announced on Friday (Jun 28).
It increased its interest through its wholly owned subsidiary Wilmar Pakistan Holdings as well as Unity Wilmar Agro, which is 52 per cent owned by Wilmar Pakistan Holdings.
Wilmar Pakistan Holdings bought 156.5 million shares and Unity Wilmar Agro purchased about two million shares in a public offer. They paid around US$15.4 million in total and raised their stakes in Unity Foods to 34.84 per cent and 14.08 per cent, respectively.
Unity Foods mainly manufactures and processes edible oils, industrial fats, flour and various feed ingredients for Pakistan’s poultry and livestock sectors.
Shares of Wilmar International were S$0.03 or 1 per cent lower at S$3.10 on Friday, before the announcement.
