Dhunseri Petrochem has hiked its stake in Global Foods to 74.04%. The 16,000 Optionally Convertible Debentures of SGD 100 each in the company’s associate company ‘Global Foods’ has been converted into 16,00,000 equity shares of SGD 1 each on June 23, 2017. Accordingly, the company’s shareholding has increased from 32.5% to 74.04% in Global Foods and thus it has become the subsidiary of the company.
Dhunseri Petrochem cultivates, processes and markets tea, and manufactures petrochemicals. The company produces polyethylene terephthalate (PET) resin.
