ZIM Laboratories To Set Up Wholly Owned Subsidiary In Chile

MT Newswires Live

02/12

ZIM Laboratories (NSE:ZIMLAB, BOM:541400) said its board has approved the incorporation of a wholly owned subsidiary in Chile, in the LATAM region, according to a Wednesday filing on Indian bourses.

Shares of the company were down nearly 2% in Thursday's trade.

The company will invest up to $15,000, or an equivalent amount in local currency, towards the share capital of the proposed subsidiary, the filing said.

The proposed entity will support expansion and business development initiatives in the LATAM region, ZIM Laboratories said in the filing.

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