Feroze1888 Mills to establish wholly-owned subsidiary in UK

Feroze1888 Mills Limited announced that its Board of Directors has approved the establishment of a wholly-owned subsidiary in the United Kingdom. 

The company shared this development through a notice to the Pakistan Stock Exchange (PSX) on Monday in accordance with Section 96 and Section 131 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX regulations.

The company said that the approval to establish the subsidiary is subject to necessary legal and regulatory clearances.

The development marks a significant step for Feroze1888 Mills as it expands its international footprint. 

Feroze1888 Mills Limited was incorporated as a Public Limited Company in October 1972 . The company is principally engaged in the production and export of towels.