Two listed companies disclose plans to sell immovable properties

Two listed companies — Bhanero Textile Mills Limited and Dadex Eternit Limited — have disclosed plans to dispose of immovable properties, with Dadex signing an agreement to sell a Karachi property for Rs1.85 billion while Bhanero approved the transfer of 27.08 acres of land to a related party.

Bhanero Textile Mills informed the Pakistan Stock Exchange that its board approved the sale or transfer of 27.08 acres of land to related party Umer Farms (Pvt) Ltd. The decision was taken during a board meeting held on March 10, 2026.

The board also decided to convene an Extraordinary General Meeting to obtain shareholder approval for the transfer as required under Sections 183 and 207–208 of the Companies Act.

Bhanero further authorised Mohammad Salim and Muhammad Shaheen to complete legal formalities related to the transaction, including signing and submitting required documents to relevant authorities and executing the transfer once approvals are obtained.

Separately, Dadex Eternit Limited disclosed that it has entered into an agreement with Sherjan Mosakhail & Sons, a registered partnership firm, for the disposal of its immovable property located at Plot No. 34-A/1, P.E.C.H.S., Block 6, Karachi.

The property will be sold for Rs1.85 billion following approval already granted by shareholders.

Dadex said the transaction remains subject to completion of procedural corporate and regulatory requirements and has not yet been finalised.

The company added that shareholders will be informed once the transaction is completed in accordance with applicable regulatory requirements.