R.N. Spinning Mills Limited (DSE:RNSPIN) agreed to acquire Samin Food & Beverage Inds And Textile Mills Ltd. on January 5, 2023. Under the terms, All existing equity shares of RN Spinning Mills held either directly or through nominees shall be scraped and RN Spinning Mills' existing shareholders will get shares at 1:5.59 ratio as they will get one new share of post-merger RN Spinning against their 5.59 shares held before the merger. Post merger the new entity will be known as Far Chemical Industries.