Nimir Resins plans corporate restructuring

MG News | August 24, 2023 at 09:31 AM GMT+05:00

0:00

August 24, 2023 (MLN): While discussing the various options regarding corporate restructuring with holding companies, the Board of Directors (BoD) of Nimir Resins Limited (PSX: NRSL) advised the management to present a "Scheme of Arrangement" and another related proposal in this regard in the next board meeting, the company's filing on PSX showed today.

NRSL is a subsidiary of Nimir Management (Private) Limited whereas Nimir Industrial Chemicals Limited is the ultimate parent company of Nimir Resins Limited.

The company's principal activity is manufacturing coating resins, composite resins (UPR), optical brighteners, textile auxiliaries and paper surface sizing agents.

At the time of writing, the company's stock is being traded at Rs15.31, down by 75 paisa or 4.67% from the previous close.

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