AIRLINK to incorporate subsidiary for mobile device manufacturing

MG News | October 06, 2021 at 09:41 AM GMT+05:00

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October 6, 2021 (MLN): The Board of Directors of Air Link Communication Limited (AIRLINK) has made the decision in its meeting held on October 04, 2021, to incorporate a wholly-owned subsidiary of Air Link Communication Limited in the name and style, 'Select Technologies (Pvt) Limited' and making an investment of Rs500million divided into 50mn ordinary shares of Rs10 each.

The primary objective of this wholly-owned subsidiary would be to take on additional mobile device manufacturing of certain selected brand(s).

Further, it has been decided to increase the authorized share capital of the company from Rs4 billion divided into 400mn shares of Rs 10 each to Rs6bn divided into 600mn shares of Rs.10 each ranking pari passu in every respect with the existing ordinary shares of the Company.

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