Sakrand Sugar Mills Limited (PSX: SKRS) has completed the transfer of a 25 percent ownership stake to new investors, achieving a major milestone in its revival plan.
In a notification to the Pakistan Stock Exchange (PSX) on Wednesday, the company said the transaction was completed after securing all necessary regulatory approvals.
The 25 percent stake was acquired from the company’s existing sponsors and directors as part of the revival strategy approved earlier by the Board of Directors. The ownership change was one of the plan’s key steps aimed at reviving the company’s operations.
Sakrand Sugar said the completion of the transaction marks important progress in implementing the revival plan and reflects the advancement of the restructuring process.
The company did not disclose the identities of the incoming investors or the value of the transaction in its stock exchange filing.
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