THE market is still rife with rumours over what could have prompted the Chinese company Shandong Ruyi Science and Technology Group Co. Ltd to pull back from its offer to acquire 31.2m shares of Masood Textile Mills Limited — a company listed on the KSE.
Masood Textile resolves to make an equity investment of Rs200m in an associate company to set up a 12MW biomass-based power plant. By the end of the last financial year, it had invested Rs0.16m in associate company’s equity.
