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Financials
Quarterly Accounts Mar 31,2008(Un-Audited)
Half Yearly Accounts Dec 31,2007(Un-Audited)
Quarterly Accounts Sep 30,2007(Un-Audited)
Quarterly Accounts March 31,2007(Un-Audited)
IPO of Hira Textile Mills Limited (Hira)
Hira offered 25 million ordinary shares at a price of Rs. 12.5 per share (inclusive of a premium of Rs. 2.5 per share) to the general public through listing of its shares on the Karachi Stock Exchange (Guarantee) Limited and as well as Lahore Stock Exchange (Guarantee) Limited.
United Bank Limited (“UBL”) and Arif Habib Securities Ltd (“AHSL”) were mandated to act as Joint Financial Advisors and Arrangers for the proposed PKR 312.5 million Initial Public Offering (“IPO”) of the afore mentioned ordinary shares of Hira.
JCR-VIS Upgrades Hira’s Credit Rating in February, 2007
Japan Credit Rating Agency Ltd. (JCR-VIS) has upgraded the medium to long entity rating of Hira Textile Mills Limited (Hira) to BBB+ (Triple B Plus) from BBB (Triple BBB).
Furthermore, Hira’s TFC rating has also been upgraded to A (Single A) from A- (Single A Minus).
The short term entity rating has been affirmed at A-3 (A Three) and the outlook on medium to long term entity and TFC rating has been revised from ‘Stable’ to 'positive'.
http://www.jcrvis.com.pk/prFile.aspx?mRatingId=406
www.jcrvis.com.pk
Diversification into Hira Terry Mills Limited
Hira has set up a towel producing unit by the name of Hira Terry Mills Limited. This project is a Joint Venture in partnership with a foreign trading company. The total cost of the Project is around Pak Rs.850 Million (US$14.17 Million). This towel unit complements the spinning, doubling and the yarn-dyeing units in terms of the consumption of in-house production.
Successful Launch of Hira’s TFC Issue in March 2005
By the Grace of Allah Almighty Hira Textile Mills Limited is pleased to announce oversubscription of its Term Finance Certificates.
This makes our offer 2.4 times oversubscribed.
Hira Textile Mills Limited expresses its gratitude for the confidence reposed by our subscribers in us.
Expansion and Self Generation by Hira in 2004
Hira has undergone expansion in order to achieve economies of scale. Hira has increased from 21,120 to 33,792 spindles. Hira has also gone into Self Generation of 1440 MW per year in order to cut on electricity cost by 40% leading to a decrease in production cost.