Pakistani Panther Tires plans to expand tire production

Pakistani tire manufacturing company Panther Tires Limited has applied for listing on the Pakistan Stock Exchange (PSX).

According to a notice issued by PSX, the company plans to issue 40 million common shares at a minimum price of Rs 47 per share. Thus, Panther Tires Limited wants to raise funds to expand its activities and business - both in the local market and abroad. The total cost of the expansion project, which the company wants to finance with debt and equity, is estimated at Rs 3.066 billion.

The investments will help the company to increase its production capacity, as well as provide an opportunity to introduce new modern European tire production technologies. Panther Tires will be able to manufacture and sell the highest quality products at competitive prices.

Panther Tires Limited is one of the largest tire companies in Pakistan, producing tires for two- and three-wheeled vehicles, as well as for tractors and industrial vehicles.