Amir Noman submits PAI to acquire 50% stake in Bela Automotives

MG News | June 10, 2024 at 04:52 PM GMT+05:00

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June 10, 2024 (MLN): Adam Securities Limited, on behalf of its client, Amir Noman has submitted a Public Announcement of Intention (PAI) to acquire 2,900,000 ordinary shares representing 50% of the total paid-up ordinary shares of 5,800,000 and control of Bela Automotives Limited (PSX: BELA)

The public announcement of intention is intended to be published in one English and one Urdu national newspaper on June 12, 2024.

Adam Securities Limited has been appointed as Manager to the Offer by the Acquirer, the brokerage house said in a notice issued to the Pakistan Stock Exchange (PSX) today.

It is worth adding here that BELA is currently under the defaulter segment of PSX. The company produces and markets automotive parts, bicycle parts, bolts, nuts, cold forged parts, machinery parts etc at Hub, near Karachi.

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