The announcement came from Air Link Communication Limited, which is planning to buy a 3-acre industrial property and a 5-acre plot from its wholly owned subsidiary, Select Technologies (Pvt.) Limited.
On Tuesday, the business informed the Pakistan Stock Exchange (PSX) of this adjustment.
Air Link Communication Limited intends to acquire an industrial plot measuring 3 acres, alongside an acquisition of a 5-acre industrial plot by its wholly-owned subsidiary, Select Technologies (Pvt.) Limited, located at Sundar Green Special Economic Zone, Lahore. The combined value of these purchases is Rs572 million,” stated Air Link in their announcement.
“These acquisitions are aimed at facilitating our current and future expansion needs and entitling us to all the applicable benefits as provided under the Special Economic Zones Act, 2012,” the company said.
In addition, the Special Economic Zones Act of 2012 provides Air Link with incentives and privileges, which are made possible by these acquisitions.
When it comes to smartphones in Pakistan, Airlink Communication Ltd. is right up there with the biggest names in the industry. With a 20-25% share of the Pakistani market, the company is an official partner of many mobile phone and accessory brands, including Apple, Samsung, Huawei, MI, TCL, Alcatel, Tecno, and iTel.
Airlink was originally formed as a private limited company on January 02, 2014, in accordance with the Companies Ordinance, 1984 (now Companies Act, 2017). As of April 24, 2019, it was transformed into a public limited company.
Products and services connected to information technology (IT), including cellular mobile devices, tablets, laptop accessories, and associated products, are imported and exported by the company. It also offers distribution, indenting, wholesale, and retail communication options.