LSE Proptech Limited and LSE Ventures Limited agreed to acquire Data Textile Mills (KASE : DATM) in a reverse merger transaction on October 13, 2022. Under the terms of the transaction, the shareholders will be issue 25 shares of LSE Proptech for every 1000 shares of Data Textiles and 25 shares of LSE Ventures Limited for every 1000 shares of Data Textiles. The shares will be issue on May 15, 2023.

On completion, the Data Textiles Limited will be dissolved without winding-up and the shares of LSE Ventures Limited and LSE Proptech Limited will be listed on Pakistan Stock Exchange. The transaction is subject to Competition Commission Of Pakistan approval, and SECP approval. The transaction is approved by the honorable Lahore High Court.

As of May 29, 2023, the shares of one of the surviving entities LSE Proptech Limited has been credited in the respective accounts of the shareholders of Data Textiles. The transaction is expected to complete within 120 days of the sanction date of April 26, 2023.