Crescent Fibres Approves PKR 241.5 Million Sale of Spinning Unit-1 Assets
Lahore/Karachi, September 28, 2026: Crescent Fibres Limited has approved the sale of portions of the plant, machinery, equipment, stores and ancillary assets of its Spinning Unit-1, located at Nooriabad, S.I.T.E., District Jamshoro, for an aggregate amount of up to PKR 241.5 million.
According to the material information submitted to the Pakistan Stock Exchange (PSX), the company’s Board of Directors approved the highest bids received from various parties at its meeting held on September 28, 2026. The disclosure was made pursuant to the applicable requirements of the Securities Act, 2015 and the PSX Rule Book.
The company stated that the sale was approved in view of the old and obsolete nature of the plant and machinery, following a recommendation from the Audit Committee.
The assets involved in the transaction are associated with Spinning Unit-1 at the company’s Nooriabad facility in Sindh. The approved aggregate sales value of up to PKR 241.5 million represents the highest bids received for the portions of assets offered for sale.
Crescent Fibres said the information was being disclosed to the Exchange in compliance with applicable statutory and regulatory requirements. The company also requested that the information be disseminated to market participants and TRE Certificate Holders of the Exchange.
The development represents a corporate decision concerning the disposal of older and obsolete industrial assets. Further details regarding the individual buyers, asset-wise valuation or the financial impact of the transaction were not provided in the disclosed material.
Source: Material Information submitted by Crescent Fibres Limited to the Pakistan Stock Exchange, dated September 28, 2026. The original document is a one-page company disclosure and states that the Board approved aggregate sales of up to PKR 241.5 million.
