Bilal Fibres changes name to Zuma Resources Limited
The listed company disclosed this in a notice to the Pakistan Stock Exchange (PSX) today.
'The name of the company be changed from Bilal Fibres Limited to Zuma Resources Limited, subject to the availability of the name with Companies Registration Office, Lahore (SECP) and approval of the shareholders of the Company,' the notice read.
The notice further said that the company has also appointed Sohaib Anwar and Saniya Akhter, after the resignations of Muhammad Omer and Shahid Iqbal, as directors of the company.
Pakistan's textile manufacturer approves revival strategy, eyes entry into IT sector
The listed company also shared the change in the authorised share capital.
'The authorised share capital of the company be increased from the existing Rs150,000,000, divided into 15,000,000 ordinary shares of Rs10 each, to Rs350,000,000, divided into 35,000,000 ordinary shares of Rs10 each, subject to the approval of the shareholders of the company,' it said.
Established in 1987, Bilal Fibres Limited engages in the manufacture and sale of yarn in Pakistan. It offers poly/cotton, poly/viscose, CVC, viscose, and cotton yarns for weaving or knitting applications.
The company also exports its products to Europe, the Far East, and the Middle East.
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