Karachi: Gul Ahmed Textile Mills Limited informed Karachi Stock Exchange about the issuance of 30% right shares at a premium of Rs. 7.50/ per share.
Further, the book closure of the company shall be from March 18, 2016 to April 01, 2016 (both days inclusive).
Gul Ahmed Textile Mills Limited was incorporated on April 01, 1953 in Pakistan as a private limited company. It was later converted into public limited company on January 07, 1955. The company is a composite textile mill and is engaged in the manufacture and sale of textile products. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.
The installed capacity of the plant is more than 130,000 spindles with 300 weaving machines and yarn dyeing, processing and stitching units, the company has its own captive power plant comprising of gas engines, gas & steam turbines, and backup diesel engines. Besides being a textile manufacturer the company also operates in the retail industry by the opening of its flagship store Ideas by Gul Ahmed. The company has a chain of more than 40 retail stores across the country offering a range of products from home accessories to fashion clothing.
Subsidiary companies of the company includes GTM USA Corporation, Gul Ahmed International Limited, GTM Europe Ltd which are 100% owned subsidiary of Gul Ahmed Textile Mills Limited.
The symbol “GATM” is being used by the stock exchanges for the shares of Gul Ahmed Textile Mills Limited.