Key facts
Sale consideration: Rs1.25 billion. Transaction remains subject to completion requirements.
Property: Approximately 14 acres, with buildings covering 233,270 sq ft.
Buyer: Alkaram Spinning Mills (Private) Limited.
Crescent Fibres Limited has approved the sale of its Nooriabad property to Alkaram Spinning Mills (Private) Limited for Rs1.25 billion, having accepted the buyer’s highest bid, according to a filing with the Pakistan Stock Exchange.
The leasehold site covers roughly 14 acres of land, with buildings totalling 233,270 sq ft, located at Plot No. B/123, Nooriabad S.I.T.E., District Jamshoro, Sindh. The transaction involves the company’s Spinning Unit‑1 property, which had been earmarked for sale earlier.
Shareholders approved the proposed disposal at an extraordinary general meeting held on 10 November 2026, under Section 183(3)(a) of the Companies Act 2017. The audit committee had recommended the sale, after which the board accepted the bid.
Crescent Fibres manufactures and sells yarn. The company’s shares closed at Rs 76.84 on Thursday.
What’s next
The transaction can be completed once the sale agreement has been executed, the sale consideration received, transfer formalities completed with relevant authorities and financial institutions’ no‑objection certificates received.
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