Jialinjie acquires part of Masoud’s shares

According to information recently disclosed by Pakistan Masood Textile Company (a listed company located in Faisalabad, the textile center of Pakistan), a representative of Shanghai Jialinjie Textile Co., Ltd. was appointed as Masood’s new director. Prior to this, Shandong Ruyi Group intended to acquire Masood, but because the two parties failed to meet the corresponding conditions within the specified period, Ruyi withdrew the acquisition offer. It is reported that Jialinjie is acquiring 24.36% of Masood’s shares. Massoud did not disclose the specific reasons for the termination of the Ruyi acquisition and the details of the Jialinjie acquisition. Analysts said Masood’s share price has soared from 48 rupees per share before Ruyi announced the acquisition to 145 rupees per share now, and regulators should be wary of speculation.