Colony Textile to invest Rs30mn in Stitchrite Ltd

MG News | May 18, 2022 at 05:15 PM GMT+05:00

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May 18, 2022 (MLN): The board of directors of Colony Textile Mills Limited (CTM) has approved an equity investment of up to Rs30 million in its wholly-owned subsidiary Stitchrite (Private) Limited through subscribing to the 3mn shares of Rs10 each against the right offer made by Stitchrite (Private) Limited.

However, as per the notice issued to PSX, this approval is subject to compliance with all statutory and legal requirements.

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