The Board of First Treet Manufacturing Modaraba (KASE:FTMM) announced the spin-off of Treet Battery Limited on December 31, 2022. As per the transaction, Treet Battery Limited shall allot ordinary shares in Treet Battery Limited to the certificate holders of First Treet Manufacturing Modaraba. The transaction is subject to approval by Honorable Lahore High Court. As on January 17, 2023, the transaction is approved by Honorable Lahore High Court.

The Board of First Treet Manufacturing Modaraba (KASE:FTMM) completed the spin-off of Treet Battery Limited on December 14, 2023.