Clover Pakistan Limited on Monday stated it was mulling exploring investment opportunities in the oil marketing area.
The organization made the announcement in a notice to the Pakistan Stock Exchange (PSX).
“At a meeting of the board of directors of Clover Pakistan Limited (the “company”) held at 12:00pm on April 21, 2025, at the registered office of the company, the controller brought to the attention of the board a potential opportunity to invest in/acquire an oil marketing enterprise.
The board of directors accepted the enterprise administration’s proposal to explore the feasibility of potentially investing in or acquiring an enterprise involved primarily in the enterprise of oil marketing.
Furthermore, the employer has also been authorized to evaluate the source of funding for the same as well as appoint advisors, evaluators, and consultants for evaluating the feasibility of the investment or acquisition.
The organization has also been approved to perform due diligence and valuation, finalize the shape, and prepare important documents for consideration by the board.
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Following the announcement, Clover’s stock price increased by 2.31%, with a benefit of Rs. 1.01, reaching Rs. 44.80 as of 1:49 PM on April 21, 2025. This uptick indicates a favorable marketplace reception to the employer’s expansion plans, signaling investor optimism about the potential impact on Clover’s future growth.
According to the PSX website, Clover Pakistan has a market capitalization of about Rs. 1.74 billion, with over 38.92 million shares in circulation and a 55% free float, indicating that a massive portion of the organization’s stocks are accessible to public trading.
Clover Pakistan primarily engages in the retail of food items, consumer goods, chemicals, and lubricants. Additionally, it imports and trades gantry equipment, air/oil filters, and various automobile maintenance products.
The firm also focuses on the marketing, distribution, and post-sale assistance of office automation devices, fuel dispensing systems, vending machines, and digital displays.