Crescent Fibres approves Rs1.25bn sale of Nooriabad property
The accepted bid covers about 14 acres and buildings spanning 233,270 square feet; completion remains subject to further steps.
At a glance
- The board accepted Alkaram Spinning Mills’ highest bid of Rs1.25 billion.
- Shareholders approved the proposed disposal on November 10.
- The property includes about 14 acres and buildings measuring 233,270 square feet.
- Completion requires a sale agreement, payment, transfer formalities and financial-institution NOCs.
Key facts
- Sale consideration
- Rs1.25 billion
- Transaction remains subject to completion requirements
- Property
- About 14 acres
- Buildings measuring 233,270 square feet
- Buyer
- Alkaram Spinning Mills (Private) Limited
Crescent Fibres Limited CFL has approved the sale of its Nooriabad property to Alkaram Spinning Mills (Private) Limited for Rs1.25 billion, after accepting the buyer’s highest bid, according to a filing with the Pakistan Stock Exchange.
The leasehold property comprises about 14 acres of land and buildings measuring 233,270 square feet at Plot No. B/123, Nooriabad S.I.T.E., in District Jamshoro, Sindh. The disposal concerns the company’s Spinning Unit-1 property, which it had previously identified for sale.
Shareholders approved the proposed disposal at an extraordinary general meeting on November 10, 2026, under Section 183(3)(a) of the Companies Act, 2017. The company’s audit committee had recommended the sale before the board accepted the bid.
Crescent Fibres manufactures and sells yarn. Its shares closed at Rs76.84 on Thursday.
Stocks in this story
This story was produced by the Investify News Desk with automated tools and checked against the sources listed. Report an error: support@investify.pk. Editorial policy
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