Consortium withdraws PAI to acquire 68.89% in Engro Powergen

News Image

MG News | November 22, 2024 at 11:58 AM GMT+05:00

0:00

November 22, 2024 (MLN): The consortium involving textile giants has withdrawn its Public Announcement of Intention (PAI) to acquire approximately 68.89% of the shareholding in Engro Powergen Qadirpur Limited (PSX: EPQL).

The acquirers include Liberty Mills Limited, Zain Ashraf Mukaty, Temoor Ashraf Mukaty, Ahmed Ashraf Mukaty, Soorty Enterprises (Pvt) Limited, Affinity Capital Pvt Limited, Najeeb Malik, Nadeem Malik, and Shahzad Malik.

The withdrawal notice was issued by Arif Habib Limited (AHL), the Manager of the Offer, to the PSX today.

It is worth noting that the PAI was published on May 17, 2024, and an extension for the Public Announcement of Offer was issued until November 24, 2024, on August 23, 2024, subject to the receipt of regulatory and other approvals.

"In this backdrop, and pursuant to Regulation 21(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 ("Regulations") read with the Securities Act 2015, we hereby give notice that as of the Expiry Date, the PAI stands withdrawn," the notice reads.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 143,937.69
147.51M
0.63%
900.53
ALLSHR 89,175.52
310.89M
0.85%
753.45
KSE30 44,294.70
92.37M
0.68%
298.55
KMI30 205,153.65
75.39M
0.74%
1509.56
KMIALLSHR 59,788.12
143.14M
0.96%
567.50
BKTi 39,375.09
26.85M
1.57%
606.74
OGTi 30,024.07
11.21M
0.82%
243.65
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 114,525.00 114,990.00
113,860.00
370.00
0.32%
BRENT CRUDE 68.08 68.14
67.74
0.44
0.65%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.55 65.63
65.11
0.39
0.60%
SUGAR #11 WORLD 16.09 16.27
15.92
-0.16
-0.98%

Chart of the Day


Latest News
August 06, 2025 at 11:58 AM GMT+05:00

RBI maintains key rate as Trump threatens tariffs


August 06, 2025 at 11:09 AM GMT+05:00

AWT Investments joins AM2+ club


August 06, 2025 at 11:09 AM GMT+05:00

Gold prices nudge lower amid stronger dollar


August 06, 2025 at 10:54 AM GMT+05:00

Saudi Riyal available at PKR 75.95 in open market



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg