Karachi September 25 2023: Pakistan Hotels Developers Limited (PHDL) approached by a potential buyer SIUT Trust for carrying due diligence of hotel property, according to company filing to the exchange.
Share price of the company jump 7.5 percent or PKR 15.35 after the announcement at Pakistan Stock Exchange.
“A potential buyer namely SIUT Trust had approached the Company through their letter dated September 23, 2023 and shown their interest in carrying a due diligence of the hotel property documents” states company filing.
Pakistan Hotels Developers Limited was incorporated and domiciled in 1979 at Karachi, Pakistan under the Companies Act, 1913 (now Companies Act, 2017) as a private limited company and converted into a public limited company in 1981.The company is principally engaged in hotel business and owns and operates a Five Star Hotel known as Regent Plaza Hotel and Convention Centre, Karachi.
