Crescent Fibres Limited has announced the approval of the sale of its leasehold land and buildings in Nooriabad to Alkaram Spinning Mills for PKR 1.25 billion. This decision follows shareholder approval at the Extra Ordinary General Meeting held on November 10, 2026.
- Sale involves approximately 14 acres of land and 233,270 square feet of buildings.
- Total sale consideration is PKR 1.25 billion (PKR 1,250.00M).
- Sale is subject to execution of the sale agreement and completion of transfer formalities.
- The transaction has been recommended by the Audit Committee.