Pakistan Cables to sell over 4.3 acres property

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MG News | March 18, 2024 at 01:44 PM GMT+05:00

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March 18, 2024 (MLN): The shareholders of Pakistan Cables Limited (PSX: PCAL) have resolved to dispose of and sell a property totaling approximately 4.334 acres at a price of Rs327.5 million per acre, the company informed through a notice sent to the Pakistan Stock Exchange (PSX) today.

The property includes plot no B/21-A, measuring approximately 3.328 acres, and plot no B/21-B, measuring approximately 1.006 acres, out of the total area of approximately 11.15 acres of land.

It is situated at Pakistan Cables Road, S.I.T.E., Karachi-75700, Pakistan.

The sale encompasses land along with buildings, cables, fixtures, and fittings referred to as the sale property and is to be transacted in one or more tranches.

The terms have been negotiated and finalized by the authorized representative of the company, it said.

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