Greentree to acquire 35% stake in TRG Pakistan

MG News | December 23, 2024 at 10:06 AM GMT+05:00

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December 23, 2024 (MLN): AKD Securities Limited on behalf of Greentree Holdings Limited has submitted a Public Announcement of Intention to acquire up to 35.145% of the issued and paid-up share capital and control of TRG Pakistan Limited.

This is in accordance with regulation 6(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers)Regulations, 2017.

This is subject to the receipt of regulatory approvals, if any.

Public Announcement of Intention will be published in one English and one Urdu-language newspaper on December 26, 2024.

Breif's description of the PAI includes, "The intended acquisition by the Acquirer is through a public offer of 50% of free float shares (35% of the total outstanding shares) in the Target Company."

Post-acquisition, the Acquirer intends to acquire 64.7% shareholding and control in the Target Company, it added.

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