MODAM mulling Data Textile's revival

MG News | November 29, 2021 at 03:34 PM GMT+05:00

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November 29, 2021 (MLN): Modaraba Al-Mali (MODAM) is making arrangements with Data Textile Limited (DATM) which is a listed Shell company for its revival, the company’s filing on bourse said.

MODAM is a specialized Islamic vehicle focusing on Islamic venture capital/private equity and restructuring/rehabilitation of companies having potential for revival.

According to the notification, DATM is being rehabilitated under a revival business plan. In this way, DATM shall be revived through the market resource mobilization led by MODAM.

Moreover, modalities and a formal agreement will be finalized in due course of time, the notice added.

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