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RSS Feeds`Nike sock supplier plans biggest Pakistan private sector IPO´
(WorldNews Pakistan)

 
 

11 november 2018 02:47:18

 
`Nike sock supplier plans biggest Pakistan private sector IPO´
(WorldNews Pakistan)
 




Faisalabad: Interloop Ltd., which makes socks for Nike and Adidas, is planning Pakistan’s biggest ever initial public offering by a private firm, Bloomberg reported. The company plans to raise as much as 6.8 billion rupees ($51 million) to expand its sock manufacturing capacity by around 20 percent and enter the denim business, said Chairman and Co-Founder Musadaq Zulqarnain. It will offer 12.5 percent of the business in the sale, likely to take place in January, and is aiming to lift revenue by 77 percent over five years, he said. “Our capacity is already full,” Zulqarnain said in an interview at the company’s head office in Faisalabad. Interloop can see more growth,...
 
6 viewsCategory: General > Asia > Pakistan
 
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