Treet Corporation declares successful incorporation of UAE subsidiary
MG News | June 26, 2024 at 02:47 PM GMT+05:00
June 26, 2024 (MLN): Treet Corporation Limited (PSX: TREET) announced today that its foreign subsidiary, Treet Trading LLC, has been successfully incorporated with the Department of Economy and Tourism in the Mainland, UAE.
This strategic move is part of the company's ongoing efforts to expand its business operations and explore new market opportunities in the international arena.
The establishment of Treet Trading LLC will enable TREET to enhance its market presence in the Middle East and leverage the business-friendly environment of Dubai.
To recap, the company's board of directors approved the subsidiary on February 27, 2024, which TREET informed the PSX about on June 06, 2024, through its filing.
Furthermore, the board authorized an initial capital injection of $100,000 for the issuance of 100,000 shares at USD 1 each.
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