Textile firms eye 68.89% shares of Engro Powergen

MG News | February 26, 2024 at 11:40 AM GMT+05:00

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February 26, 2024 (MLN): Liberty Mills Limited, Soorty Enterprises (Pvt) Limited, and Affinity Capital Pvt Limited have submitted a Public Announcement of Intention to acquire up to 68.89% shares of Engro Powergen Qadirpur Limited (PSX: EPQL).

Arif Habib Limited, the manager to the offer, disseminated this information through a notice issued to the Pakistan Stock Exchange (PSX) today.

Liberty Mills Limited is a leading player in the textile industry, known for its commitment to quality and innovation. Specializing in textile manufacturing, the company has established a notable presence with focus on meeting market demands and maintaining high production standards.

Soorty Enterprises (Pvt) Limited has been involved in textile manufacturing and export for nearly 40 years and is a denim manufacturing powerhouse with a global, vertical integrated setup and a focus on design, innovation and sustainability.

Affinity Capital Pvt Limited is part of the Master Group of Industries (MGI), which is a family-owned business with Nadeem Malik, Najeeb Malik, and Shahzad Malik holding shareholding in all group companies either directly or through their holding companies.

MGI is a successful conglomerate which started business in 1963 in the foam industry, and has since expanded into the textile, automobile, engineering and energy sectors.

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