Calcorp Limited (PSX: CASH) has announced to fully acquire Helios Resol Technology (Pvt.) Limited (Helios), its associated company.
In a notice to the Pakistan Stock Exchange (PSX) on Friday, CASH said its Board of Directors held a meeting yesterday, where they reviewed a proposal to invest in Helios. The board recommended placing the matter before shareholders for approval via a Special Resolution.
Under the proposed transaction, Calcorp plans to acquire 50,000 ordinary voting shares of Helios, representing 100% of its shareholding, at a total cost of Rs. 100,000 (Rs. 2 per share).
Helios, registered with the Special Economic Zone (SEZ), has yet to commence operations. It has been allocated two acres of land in Bin Qasim Industrial Park, Special Economic Zone (BQIP-SEZ) and intends to produce photovoltaic modules, battery systems, and inverters/ancillaries.
The company has already paid Rs. 35 million to SEZ Authority (SEZA) as its first installment. As of June 30, 2025, Helios has recorded a Capital Work In Progress of Rs. 1.7 million. The company will enjoy a ten-year tax-free status from the date its commercial operations are certified by SEZ developers.
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The date and venue of the Extraordinary General Meeting for shareholder approval will be announced in due course.
