Arif Habib submits PAI to acquire HASCOL on behalf of Millat Global
MG News | December 19, 2023 at 09:20 AM GMT+05:00
December 19, 2023 (MLN): Arif Habib Limited (PSX: AHL) being a manager to offer has submitted a Public Announcement of Intention (PAI) to acquire 76% shareholding in Hascol Petroleum Limited (PSX: HASCOL) on behalf of Millat Global Holdings Limited.
AHL unvieled in a notification to exchange that they have been appointed as the Manager to the Offer by Millat Global Holdings Limited by the provision of the Securities Act 2015 and the Listed Companies Regulations, 2017.
The said PAI shall be published in one English and one Urdu-language newspaper on December 20, 2023.
Yesterday, the Board of HASCOL resolved to pursue a potential acquisition by Millat Energy Group, which has expressed interest in acquiring a 76% stake in Hascol through a subscription to new shares.
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