Crescent Fibres Limited has approved the sale of its leasehold land and buildings in Nooriabad, Sindh, to Alkaram Spinning Mills (Private) Limited for Rs1.25 billion, about $4.51 million. The company told the Pakistan Stock Exchange about the decision in a notice on Thursday. The Crescent Fibres sale of Nooriabad property has the board's approval, but it is not yet complete.
What the board approved
The land covers about 14 acres of leasehold property, which means the company holds it under a lease rather than as outright owner. The buildings on the site measure 233,270 square feet and stand on Plot No. B/123 in Nooriabad S.I.T.E., District Jamshoro. According to the notice, the board accepted the highest bid it received from the buyer.
Shareholders had already approved the disposal at an extraordinary general meeting held on November 10, 2026, under Section 183(3)(a) of the Companies Act, 2017. The company's audit committee, a board sub-committee that reviews financial controls, also recommended the sale.
Conditions still to be met
The deal is not final until several steps are complete. These include signing the sale agreement, receiving the full sale consideration and completing transfer formalities with the relevant authorities. The company also needs no-objection certificates, or NOCs, which are letters from financial institutions confirming they have no objection to the transfer.
About the companies
Crescent Fibres Limited was incorporated in Pakistan as a public limited company in 1977 and manufactures and sells yarn. As of June 30, 2025, the local general public held 48.45% of its shares, while directors, the chief executive, their spouses and minor children together held 36.98%.
The buyer is named in the notice as Alkaram Spinning Mills (Private) Limited. The notice's background section describes Alkaram Textile Mills (Pvt) Limited as one of Pakistan's largest vertically integrated textile companies, meaning it covers several stages of production. It says 80% of that company's sales are exports and 20% domestic, with about 14-15% of domestic sales revenue coming from e-commerce and a plan to lift this to 20%. The two Alkaram names are not explained as one company, so readers should not assume they are the same entity.
Aasan alfaaz mein
Crescent Fibres ne Nooriabad (Sindh) ki apni zameen aur imarat Alkaram Spinning Mills ko Rs1.25 arab (taqreeban $4.5 million) mein bechne ki manzoori di hai. Yeh sauda abhi mukammal nahi hua, kyunke agreement, raqam ki adaigi aur kaghzi formalities baaqi hain. Aam shehri ke liye iska seedha asar fori taur par nahi dikhta. Yeh mukhtasar taur par do companies ke beech ka zameen ka sauda hai.
