Saritow Spinning Mills Limited has approved the sale of its plant and machinery after its board accepted the highest bid of Rs419 million, according to a disclosure filed with the Pakistan Stock Exchange.
The company said the bid price was recommended by the audit committee following a review process and was notably higher than the assessed market value of the plant and machinery. The board’s decision reflects an effort to maximize value from non-core or underutilized assets, although the company did not provide further details on the buyer or the timeline for completing the transaction.
The approval was granted at a board meeting held on January 5, 2026. Saritow Spinning Mills stated that the disclosure was made in compliance with the Securities Act, 2015, as well as the relevant provisions of the PSX Rule Book.
The company did not comment on how the proceeds from the sale would be utilized or whether the transaction would have any immediate impact on its ongoing operations.
