AKD Securities to acquire 91% stake in Globe Textile Mills for OBS Pvt Ltd

MG News | July 17, 2018 at 03:31 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

In a notification to the Pakistan Stock Exchange, AKD Securities Limited announced their intention to acquire 90.99% ordinary shares of Globe Textile Mills Limited, or about 14,891,829 shares on behalf of OBS Pakistan (private) Limited.

OBS Pakistan (private) Limited is a private company that intends to acquire the 90.99% stake in Globe Textile Mills Limited (Target Company), in affect taking control over the management as well.

OBS Pakistan (Private) Limited is in the business of providing services encompassing manufacturing, marketing and sales of pharmaceutical and consumer health products.

The ultimate controlling shareholders will be (1) Mr. Tariq Moinuddin Khan who is the CEO of the acquiring company, and (2) Mrs. Adeela Tariq Khan.

PSX Notification

Related News

Name	Price/Vol	%Chg/NChg
KSE100	173,518.82 409.23M	-3.56% -6408.23
ALLSHR	105,463.40 895.64M	-3.48% -3807.29
KSE30	51,709.62 172.22M	-3.72% -1996.09
KMI30	244,367.91 157.85M	-3.61% -9164.01
KMIALLSHR	67,803.26 534.35M	-3.35% -2349.37
BKTi	49,017.52 55.15M	-3.88% -1979.98
OGTi	34,971.98 16.59M	-3.44% -1244.10

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,970.00	65,255.00 64,685.00	255.00 0.39%
BRENT CRUDE	86.13	86.35 85.02	1.40 1.65%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-1.30 -1.21%
ROTTERDAM COAL MONTHLY	119.00	119.50 118.50	-0.50 -0.42%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	80.37	80.59 79.59	1.03 1.30%
SUGAR #11 WORLD	14.92	15.00 14.67	0.17 1.15%