Service Industries Limited (SIL) has informed the Securities & Exchange Commission of Pakistan (SECP) that its wholly owned subsidiary, Service Tyres (Private) Limited (STPL), plans to establish another wholly owned subsidiary, Service Tyres International (Private) Limited.

According to the company’s disclosure submitted under the Rule Book of the Pakistan Stock Exchange (PSX) and the Securities Act, 2015, the new entity will focus on expanding SIL’s tyre business operations.

Further details will be shared with PSX in due course, the company stated, adding that a disclosure form has been attached with the communication.

The notice, signed by Waheed Ashraf, Company Secretary, requests that TRE Certificate Holders of the Exchange be informed accordingly.