Fast Cables shareholders approve Rs747.763m of IPO funds for working capital
Shareholders approved using surplus proceeds from Fast Cables Ltd.'s initial public offering to meet the company's working capital needs.
Shareholders approved the use of Rs747.763m in surplus initial public offering (IPO) proceeds for the working capital needs of Fast Cables Ltd., reports say.
An IPO is a first sale of shares to the public. The reports do not say when the funds are used or how the surplus arose.
Fast Cables shares last closed at 23.96 rupees on 22 October 2026, down 0.37% on the day, our end-of-day data show. The move is measured against the previous close (the price when trading ended the day before).
The reports do not say what happens next.
FCL and the Pakistan market
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