Mirza International Limited has informed the Exchange about Acquisition
MIRZAINT · price
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Mirza International Limited has acquired a 100% wholly owned subsidiary named Genesis Brands Inc in the USA, incorporated on January 8, 2025. The new entity has a share capital of USD 1,000 and has not yet commenced business. It will focus on retail marketing and e-commerce for the footwear industry. The acquisition was made entirely in cash, though the cost of acquisition was not disclosed in the filing.
This is a small, early-stage subsidiary acquisition aimed at setting up a US foothold for footwear retail and e-commerce. Since the target has no revenue or operations yet, the immediate financial impact on shareholders is likely minimal, but it signals a strategic push into direct-to-consumer overseas markets.