KARACHI, June 23: Dawood Fibre Mills Limited (formerly: Aisha Cotton Mills Limited) announced on Thursday that the company proposed to go into voluntary delisting from the stock exchange.

A notice issued through the Karachi Stock Exchange stated that a meeting of the Board of Directors of the company held on Thursday had authorized the Chief Executive to file application for voluntary delisting and to negotiate the price with the stock exchange at which the sponsor director(s) would buy shares from the minority shareholders after approval of the stock exchange.

Dawood Fibre Mills is currently trading on the ‘defaulters’ counter’ of the KSE at Rs6.15 for the 10-rupee share. The company has paid up capital of Rs119.430 million.