KARACHI: A gong ceremony was held at the Pakistan Stock Exchange (PSX) at its Lahore office to mark the merger/amalgamation of AEL Textiles Ltd (AEL) into Stylers International Ltd (SIL).

AEL, a listed company which was formerly an energy company, and SIL would combine the businesses and assets as well as share capital of their members into one company for value addition for both the companies’ members.

After the completion of the amalgamation process and issuance of shares of SIL to the registered members of AEL, the latter will be dissolved and delisted from PSX whereas SIL will instead stand listed thereupon.

Addressing the ceremony, PSX Managing Director and Chief Executive Farrukh H. Khan said it is a significant event that SIL becomes part of the public markets.

SIL chief executive Hafiz Mustanser Ahmed provided detailed insights into the company’s impressive denim apparel production annual capacity of 9 million pieces, positioning it as a significant player in the textile industry.

Published in Dawn, January 23rd, 2024