Dadex Eternit Announces Karachi Property Sale Agreement

Dadex Eternit Limited has formally disclosed the execution of an agreement with Sherjan Mosakhail & Sons for the proposed disposal of its immovable property situated at Plot No. 34-A/1, P.E.C.H.S., Block 6, Karachi. The transaction has been undertaken pursuant to prior approval granted by the company’s shareholders in accordance with applicable corporate governance requirements.

According to the company’s regulatory filing, the proposed sale remains conditional upon completion of requisite corporate actions and regulatory formalities. The transaction has not yet reached financial close. Dadex Eternit has undertaken to notify shareholders and the relevant authorities upon completion of the sale, in strict compliance with prevailing disclosure obligations.

Dadex Eternit is principally engaged in the manufacture and sale of construction materials, with its core product line comprising piping systems and related products produced from chrysotile cement, rubber, and plastics. The company also carries out merchandising activities involving imported pipe fittings, accessories, and other allied building materials.

The company was incorporated in Pakistan as a public limited company on 13 April 1959 under the repealed Companies Ordinance, 1984, and is currently governed by the framework of the Companies Act, 2017.