DM Textile shifts to real estate, seeks compliance status

MG News | April 03, 2025 at 10:40 AM GMT+05:00

0:00

April 03, 2025 (MLN): DM Textile Mills Limited (PSX: DMTX) has secured approval from its Board of Directors and shareholders to shift its principal line of business to real estate and rebrand as D.M. Corporation Ltd.

The company has initiated the necessary process with the Securities & Exchange Commission of Pakistan (SECP) and the Company Registration Office (CRO) for regulatory approvals.

Amid its restructuring efforts, the company has successfully cleared all long-term liabilities owed to financial institutions, marking a significant financial turnaround.

Management remains committed to utilizing available resources and reviving the company's operations.

In light of these developments, DM Textile has urged the stock exchange to remove its name from the non-compliant segment, arguing that such a classification is hindering its recovery.

The company remains optimistic about its prospects under its new business direction.

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