PDS Cuts Stake in Hong Kong-based Subsidiary
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Apparel manufacturer PDS has reduced its shareholding in Hong Kong-based subsidiary Nor Lanka Manufacturing to 90.5%, according to a Thursday filing to the Indian bourses. The stake reduction from 100% was a result of Nor Lanka issuing and allotting equity shares to employees of the PDS Group. The issuance and allotment have been approved by relevant Hong Kong regulators.
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