Karachi, Nadeem Textile Mills Limited informed Pakistan Stock Exchange the competent authority on the basis of special resolution passed by the shareholders of the Company in the Extra Ordinary General Meeting (EOGM) held on April 30, 2016, information provided to the Commission and circumstances of the case has allowed the Company to issue 3,604,500 ordinary shares at a price of Rs. 40 per share (premium of Rs. 30 per share) by way of otherwise than right to NGPL against conversion of its loan amounting to Rs. 144,180,000.
Nadeem Textile Mills Limited is one of the largest and most dynamic textile companies in Pakistan. The company was incorporated in 1986. It is ISO 9002 certified. It is known and trusted as a producer of high quality spun yarn. It has a work-force of more than 2000 individuals and has an annual turnover of over $40 Million.
The group is equipped with a total of 72,192 spindles. In order to ensure uninterrupted power supply, Nadeem Textile Mills Limited has established its own power generation plant.
The plant provides stable electric power supply to the mill. The mill is equipped with state of the art laboratories and testing equipment. In addition to selling its yarn locally, the company regularly supplies its yarns to Far East Asia, Europe, Turkey, South East Asia and South Asia markets.
The symbol “NATM” is being used by the stock exchange for the shares of Nadeem Textile Mills Limited.