Bilal Fibres Rebrands as Zuma Resources Limited

Bilal Fibres Limited announced its change of name to Zuma Resources Limited on Tuesday. The publicly traded company communicated this update in a notification to the Pakistan Stock Exchange (PSX) earlier today.

The announcement stated, “The company’s name will be changed from Bilal Fibres Limited to Zuma Resources Limited, conditional upon the name’s availability with the Companies Registration Office, Lahore (SECP), and subject to shareholder approval.”

Furthermore, the announcement indicated that Sohaib Anwar and Saniya Akhter have been appointed as company directors following the resignations of Muhammad Omer and Shahid Iqbal.

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The corporation also communicated modifications to its authorized share capital.

According to the notice, “The company’s authorized share capital will increase 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, pending shareholder approval.”

Bilal Fibres Limited, established in 1987, is involved in the production and sale of yarn within Pakistan. It provides a range of yarns, including poly/cotton, poly/viscose, CVC, viscose, and cotton, suitable for weaving and knitting purposes.

The company also exports its offerings to markets in Europe, the Far East, and the Middle East.