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Pakistan’s Crescent Fibres approves $4.5mn sale of Nooriabad property to Alkaram Spinning Mills
Crescent Fibres Limited has approved the sale of its approximately 14-acre leasehold property in Nooriabad, Sindh, to Alkaram Spinning Mills (Private) Limited for Rs1.25 billion, approximately $4.51 million. Crescent Fibres disclosed the development in a notice to the Pakistan Stock Exchange on Thursday. “The Board of Directors of Crescent Fibres Limited has approved and accepted the highest bid received from Alkaram Spinning Mills (Private) Limited for the disposal/sale of the company’s leasehold land measuring approximately 14 acres, together with buildings constructed thereon measuring 233,...
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