Crescent Fibres clears Spinning Unit-1 asset sale

MG News | June 02, 2026 at 01:53 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

June 02, 2026 (MLN): Shareholders of Crescent Fibres Limited approved the sale and disposal of plant, machinery, equipment and related assets of its Spinning Unit-1 located in Nooriabad, Jamshoro during an extraordinary general meeting held on June 2, 2026.

The company was authorized to proceed with the transaction and delegate execution powers for completion of the sale process.

Proceeds from the disposal will be used to repay outstanding financial obligations, fund balancing, modernization and replacement activities, support solar installation at Spinning Unit-2, and any remaining amount, if available, will be allocated toward working capital.

The aforementioned information was disseminated through a notification to Exchange.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	62,890.00	63,160.00 62,210.00	525.00 0.84%
BRENT CRUDE	74.70	77.00 74.61	-2.38 -3.09%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	0.50 0.44%
ROTTERDAM COAL MONTHLY	126.10	126.10 125.90	0.10 0.08%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	71.03	73.18 70.91	-2.18 -2.98%
SUGAR #11 WORLD	13.90	14.00 13.81	-0.05 -0.36%