"Talks to acquire the company began in September. We have not discussed this issue with anyone until today. We are not involved in raising the share price of this company in the stock market," Islam told newspersons.
Alif Group started its business in 1967 from oil trading. From there, the scope of business expanded to sectors like readymade garments, textiles, yarn, financial institutions, housing, electronic media, education and technology. The group earns about Tk 2,500 crore a year.
The C&A Textile factory in Chattogram closed down in 2016. By 2021, the company was under loans amounting to Tk 250 crore with interests and other debts standing at around Tk 22 crore. Islam hoped it would be possible to reopen the factory by February next year, according to bangla media reports.
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