Apparel manufacturer PDS (NSE:PDSL, BOM:538730) 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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