Crescent Fibres Approves Massive Rs1.25 Billion Property Sale

When looking at recent market movements, Crescent Fibres stands out following a major corporate real estate decision. Crescent Fibres has officially given the green light to dispose of its leasehold property located in Nooriabad, Sindh, to Alkaram Spinning Mills (Private) Limited. The transaction involves a massive aggregate sale consideration of Rs1.25 billion, which is approximately equivalent to $4.51 million.

Understanding the Asset and Transaction Details

The formal disclosure was submitted through a notice sent to the Pakistan Stock Exchange on Thursday. According to corporate filings, the board of directors evaluated incoming bids and accepted the highest offer presented by Alkaram Spinning Mills. The underlying real estate comprises approximately 14 acres of leasehold land along with constructed buildings measuring 233,270 square feet. This property is situated specifically at Plot No. B/123 within the Nooriabad S.I.T.E. area in District Jamshoro.

Furthermore, prior to this board-level approval, the company had already secured endorsement from key internal stakeholders. The audit committee formally recommended the sale before it progressed to the broader corporate governance stages. Shareholders subsequently granted their formal consent during an extraordinary general meeting convened on November 10, 2026. This process strictly adhered to the regulatory requirements outlined under Section 183(3)(a) of the Companies Act, 2017.

What Happens Next

With corporate and shareholder approvals now fully secured, Crescent Fibres will proceed to finalize the transfer of the Jamshoro district property. Market observers will continue monitoring Crescent Fibres and other listed entities, such as CSIL, FFL, and KEL, as trading values fluctuate across the board. Key stock performance indicators from the recent session include:

• AGHA: 6.38 (Increased by 0.16%)
• B BOP: 31.65 (Increased by 0.09%)
• FFL: 15.03 (Increased by 2.04%)
• TREET: 26.30 (Increased by 5.03%)
• CSIL: 5.77 (Decreased by 5.25%)

The completion of this multi-million dollar transaction marks a notable portfolio adjustment for Crescent Fibres as management executes its long-term strategic plans.

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