Apex Black Ltd to make £2.5 lakh investment in Hydrocotton

23 Sep '20

1 min read

Pic: Hydrocotton

India’s PDS Multinational Fashions Ltd intimated the exchanges recently that its subsidiary Hong Kong-based Apex Black Ltd has entered into an agreement for investing £250,000 in London-based technology start-up Hydrocotton Ltd to acquire 16.56 per cent shareholding on fully diluted basis. The investment has to be made no later than September 30 this year.

Hydrocotton Ltd designs systems to grow cotton fibre in an ultra-efficient and transparent way to reduce the environmental impact of garments and products made from cotton.

The price of shares is £0.00001 per share (nominal value) and £0.53099 per share (premium).

PDS Group foresees a lot of synergy value for its supply chain through this investment. It shall add value by introducing a sustainable source of cotton production to vendors of the group’s sourcing and manufacturing partners.

It further substantiates PDS Group’s constant endeavor in promoting sustainable materials, low impact manufacturing and investing in a sharing circular economy, the company informed.

Fibre2Fashion News Desk (DS)

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