Premium Textile Mills Limited (PTML) has approved a proposed equity investment of up to Rs20 million in Recover Pakistan (Private) Limited, a proposed joint venture with Recover HoldCo, Inc., according to a material information disclosure submitted to the Pakistan Stock Exchange (PSX) on September 11, 2026.
The company said its Board of Directors approved the proposed investment through a circular resolution dated September 10, 2026. The investment is aimed at supporting a business focused on the sourcing, sale and trading of recycled cotton fiber and related textile products in both domestic and international markets.
According to the disclosure, the proposed venture is expected to provide Premium Textile Mills with access to new markets and business opportunities. The company believes the initiative could contribute to its profitability while also enhancing value for shareholders.
The move also reflects a growing focus on recycled materials within the textile value chain. By participating in a business centered on recycled cotton fiber, PTML could expand its activities beyond traditional textile operations and explore opportunities in markets where demand for recycled and more sustainable textile inputs is increasing.
However, the proposed investment is subject to approval by the members of Premium Textile Mills at the company’s forthcoming Annual General Meeting (AGM). Until the required approval is obtained, the investment remains a proposed transaction.
The company’s disclosure, issued in accordance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Rule Book, was also submitted for dissemination among TRE Certificate Holders.
A Potential New Growth Avenue
For Premium Textile Mills, the proposed joint venture represents an opportunity to enter or strengthen its presence in the recycled cotton fiber market. The company’s stated objectives include expanding market access, developing new business opportunities and supporting profitability.
The initiative will ultimately depend on shareholder approval and the future performance of the proposed venture. If approved, it could become another avenue through which Premium Textile Mills seeks to diversify its business and create additional value for shareholders.
