Haroon Ahmed Khan, chief executive officer (CEO) of Waves Singer Pakistan, has bought the bankrupt Samin Textiles to turn it around into a large retail company. — Photo courtesy Mettis News
LAHORE: Haroon Ahmed Khan, chief executive officer (CEO) of Waves Singer Pakistan, has bought the bankrupt Samin Textiles to turn it around into a large retail company with a strong e-commerce platform through an initial injection of Rs250 million.
According to a bourse filing, Samin Textiles, which was shut down in August 2018, has requested the Pakistan Stock Exchange (PSX) to help it get its shares unfrozen by the CDC for their transfer to Mr Khan, who also owns more than 38pc holding in WSPL, for the execution of the company’s revival plan.