Pakistani steel producer Dost Steels Limited has announced plans to raise PKR 4.45 billion through a rights issue to finance the installation of a melting furnace and meet working capital requirements. The company will issue 444,695,577 ordinary shares at PKR 10 per share, representing approximately 100 percent of its existing paid-up capital.
The funds will be used to install and commission a melting furnace for billet production, which serves as essential raw material for the company's finished products. Dost Steels expects the project to reduce raw material costs, improve profit margins, and enhance operational efficiency while strengthening supply chain control.
The company said the investment will support long-term business sustainability and is expected to boost profitability, shareholder value, and market competitiveness.
