January 22, 2024
Subsequent to the amalgamation/ merger of AEL Textiles Limited (AEL) into and with Stylers International Limited (SIL), AEL was dissolved whereas SIL was listed on Pakistan Stock Exchange (PSX). A gong ceremony was held at PSX Lahore Office to mark this significant milestone in the corporate journey of Stylers International – a textile company, part of the US Group.
Mr. Farrukh H. Khan, MD & CEO PSX, and Ms. Raeda Latif, Chief Marketing & Business Development Officer of PSX, were digitally connected for the ceremony from Karachi. Mr. Farrukh Khan congratulated Stylers International and added that listing of companies like Stylers International of US Group will be a pivotal step towards financial growth, not only for the company and key stakeholders but will also benefit the capital market contributing towards the national economy.
Mr. Sohaib Bhatti and Mr. Mian Umar Ahsan, Group Directors at US Group, expressed their enthusiasm about the momentous occasion of listing of Stylers International, stating, “Today marks a pivotal moment in the history of US Group”. The CEO Stylers International, Mr. Hafiz Mustanser Ahmed, extended gratitude to the regulatory authorities, the PSX team, and all stakeholders who played a pivotal role in the successful listing process. Hafiz Mustanser provided detailed insights into the company’s impressive denim apparel production annual capacity of 9 million pieces per annum, positioning it as a significant player in the textile industry. He also introduced Project Sunshine, a state-of-the-art facility, located at Raiwind Chunian Road, Lahore.
The ceremony was also graced by Mr. Syed Amir Ali, Deputy CEO Meezan Bank, who congratulated Stylers International on achieving this significant milestone and highlighted the importance of a thriving textile sector for the economic development of Pakistan. He also talked about benefits of listing at PSX. The event proved to be a beneficial one for all stakeholders concerned and appropriately marked the momentous occasion of listing of Stylers International Limited.