LAHORE: The Akro & Excelsior LLC — a Texas-based company engaged in venture capital investments portfolio management — submitted to the Pakistan Stock Exchange (PSE) on Monday a public announcement of its intention to acquire up to 74.15pc shares and control of Mian Textile Industries Limited (MTIL). Acquirer’s InfoAli Arif of Akro & Excelsior LLC intends to acquire (16,309,209) shares and 74.15pc of the paid-up capital through agreement and 2,857,495 shares and 12.93pc of the paid-up capital through public offer. In 2015, he decided to establish his own business and started the import of textile related goods. He is the sole member of Akro & Excelsior a private LLC with 100pc ownership. About MTILNargis Jehangir is the chairperson of MTIL and Mian Muhammad Jehangir is the CEO of MTIL.

Source: Pakistan Today March 09, 2020 14:27 UTC