Islamabad, Sep 2: The formation of a private limited company in the United Kingdom has received approval from the board of directors of Nishat Mills Limited (PSX: NML).
The firm shall be formed in accordance with all applicable laws and subject to the granting of all necessary regulatory licenses through NML’s wholly owned subsidiary Nishat International FZE, United Arab Emirates.
In addition to manufacturing textiles, the company also produces, gathers, distributes, supplies, and sells electricity. It also engages in the spinning, combing, weaving, bleaching, dyeing, printing, stitching, apparel, and other business dealings with yarn, linen, cloth, and other goods and fabrics made from raw cotton, synthetic fiber, and cloth.
NML’s shares on the market were trading at Rs. 64.9 at the time of reporting, up 1.55 percent or Rs. 0.99 with 193,361 shares on Monday.
