Sapphire Fibres Limited has issued 1.32 million new shares under its merger arrangement with Reliance Cotton Spinning Mills, according to a notice submitted to the Pakistan Stock Exchange (PSX).
The company said the newly issued shares were credited to eligible shareholders on April 24, 2026, following the approved share swap ratio under the merger scheme.
Under the agreement, shareholders of Reliance Cotton Spinning Mills received 0.40 shares of Sapphire Fibres for every one share they held. As part of the merger process, shares of Reliance Cotton Spinning Mills have also been removed from the Central Depository System.
Following the issuance of new shares, Sapphire Fibres’ total paid-up capital has increased to 24.87 million shares.
The latest development marks an important step in finalizing the merger, which has been underway since 2025 as part of a wider restructuring plan within the textile group.
The merger involves the absorption of Reliance Cotton Spinning Mills into Sapphire Fibres, after which the former company is expected to be dissolved without winding up once all legal and regulatory formalities are completed.
Sapphire Fibres, a member of the broader Sapphire Group, is engaged in yarn, fabric, and garment manufacturing. The merger is expected to improve operational efficiency and strengthen scale within the group’s spinning business.
