August 04, 2026 (MLN): Masood Textile Mills Limited (PSX: MSOT) has disclosed a proposed change in shareholding, with two Chinese shareholders agreeing to divest stakes to a UAE-based buyer.
Shanghai Challenge Textile Co., Ltd., which holds 17,396,833 ordinary shares of MTM representing approximately 25.77% of the issued and paid-up share capital, has entered into an agreement with Velora Global Ventures F.Z.C. for the partial divestment of 7.00% of the company's issued and paid-up share capital.
The transfer is intended to be implemented in eleven equal quarterly instalments, subject to the fulfillment of agreed contractual terms and applicable legal and regulatory requirements in Pakistan.
Separately, Zhejiang Xinao Industry Company Limited, which holds 7,636,550 ordinary shares in MTM, has entered into an agreement with Velora Global Ventures F.Z.C. for the disposal of its entire shareholding in the company.
This transfer is to be implemented in ten equal quarterly instalments, subject to the fulfillment of agreed contractual terms and applicable regulatory approvals.
Velora Global Ventures F.Z.C. has confirmed it has entered into separate Share Purchase Agreements with both sellers for a combined proposed acquisition of 18.31% of MTM's issued and paid-up share capital comprising 7.00% from Shanghai Challenge Textile Co., Ltd. and 11.31% from Zhejiang Xinao Industry Company Limited.
The acquisition is intended to be implemented in phased transactions over approximately three years, in accordance with the respective Share Purchase Agreements.
Completion of the proposed acquisition remains subject to clearance from the Competition Commission of Pakistan (CCP) and fulfillment of other applicable legal and regulatory requirements. Velora Global Ventures has stated it will be submitting the requisite pre-merger application to the CCP for consideration.
The aforementioned information was disseminated through a to Exchange.