AKD Group Holdings pulls out of acquisition bid for EFG Hermes Pakistan

By MG News | Category Equity | April 08, 2024 at 02:40 PM GMT+05:00

0:00

April 08, 2024 (MLN): AKD Group Holdings (Pvt) Limited has withdrawn its Public Announcement of Intention (PAI) to acquire more than 51% of the voting shares and control of EFG Hermes Pakistan Limited (PSX: EFGH).

Topline Securities Limited, the manager to the offer revealed through a notice issued to local bourse today.

To recall on October 30, 2023, AKD Group Holdings withdrew its public announcement and renewed bid for the target company.

The company is Trading Right Entitlement Certificate (TREC) Holder of Pakistan Stock Exchange Limited.

At the time of writing, EFGH's scrip is trading at Rs16.17, up by 1.12 Rupees or 7.44% compared to the last close.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	121,641.00 407.56M	-0.13% -157.87
ALLSHR	75,951.71 854.04M	-0.10% -76.82
KSE30	36,827.89 67.82M	-0.42% -156.03
KMI30	181,199.42 117.76M	-0.38% -696.40
KMIALLSHR	52,088.08 592.55M	-0.27% -143.41
BKTi	29,808.04 22.21M	-0.83% -249.97
OGTi	27,075.99 4.68M	-0.75% -203.95

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	105,060.00	105,945.00 101,390.00	2845.00 2.78%
BRENT CRUDE	66.65	66.67 64.80	1.31 2.00%
RICHARDS BAY COAL MONTHLY	90.00	90.75 90.00	0.00 0.00%
ROTTERDAM COAL MONTHLY	101.80	102.40 101.00	1.25 1.24%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.77	64.80 62.82	1.40 2.21%
SUGAR #11 WORLD	16.51	16.59 16.32	-0.06 -0.36%