Pakistan, Feb. 8 -- Citi Pharma Limited (CPHL), a Pakistani pharmaceutical company, has decided to venture into the real estate sector with the formation of Citi REIT Management Company, its wholly owned subsidiary.
The pharmaceutical shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
The Board of Directors (BoD) of the pharmaceutical has approved "the formation of and approval for the establishment of Citi REIT Management Company as a wholly owned subsidiary of Citi Pharma Limited and to allow the formation of an approval of fundraising for real estate projects," read the notice.
Additionally, the BoD also approved the formation of a biological plant, including separate facilities for different types of I...