January 15, 2025 (MLN): AKD Securities Limited, as the Manager to the Offer (MTO), submitted a Public Announcement of Offer on behalf of Greentree Holdings Limited (the Acquirer).
The offer aims to acquire up to 191.69 million ordinary shares of TRG Pakistan Limited (the Target), constituting a 35.147% shareholding interest in the Target, the company's filing on PSX revealed today.
The Acquirer currently holds 162.01mn ordinary shares of TRG Pakistan Limited.
The Acquirer, through this public offer, plans to invest up to $52mn in Pakistan, which will provide additional liquidity to shareholders of TRG Pakistan.
Greentree Holdings Limited, along with its parent, has extensive international business experience in related industries.
TRG Pakistan Limited will continue to operate as a listed company after the proposed acquisition and will continue its business operations and investments in the ordinary course.
To accept the Public Offer, shareholders of the "Target" must submit the completed and signed letter of acceptance, along with the required documents, to the MTO no later than 2pm on March 12, 2025.
Greentree Holdings Limited is a wholly owned subsidiary of The Resource Group International Limited, a Bermuda-incorporated investment holding company that operates as an independent special-purpose vehicle.