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February 27, 2026
Service Global has approved up to Rs1 billion to establish an athletic footwear subsidiary.
Service Global Footwear Limited has sanctioned an equity investment of up to Rs1 billion to set up Service Athletic Global Footwear (Private) Limited as a subsidiary.
The decision was conveyed in a filing to the Pakistan Stock Exchange, stating that shareholders approved the plan through a special resolution in line with Section 199 of the Companies Act, 2017. The company will acquire fully paid ordinary shares at face value, with funding expected to be injected in stages.
According to the resolution, the company’s ownership level could fluctuate during phased capital contributions by other investors. Once all shareholders complete their respective injections, Service Global intends to hold 51% of the subsidiary’s paid-up capital.
The mandate for this investment will remain effective for five years from shareholder approval. The board has authorised the Chief Executive Officer or any director to finalise agreements and meet all regulatory and legal requirements.
In a separate ordinary resolution, members also approved leasing the company’s Unit-4 facility in Muridke, Punjab, to the new entity following its incorporation.
