Hascol to evaluate offer from Millat Global Holdings

News Image

MG News | March 29, 2024 at 09:33 AM GMT+05:00

0:00

March 29, 2024 (MLN): The Board of Directors (BoD) of Hascol Petroleum Limited (PSX: HASCOL) has authorized the management to evaluate the purchase offer from Millat Global Holdings and to engage in further discussions to seek additional details and clarifications regarding the offer.

According to a notice issued by the company to PSX today, the board made this decision during their meeting held on March 28, 2024.

To recall, on December 18, 2023, HASCOL's board resolved to pursue a potential acquisition by Millat Energy Group, which expressed interest in acquiring a 76% stake in Hascol through a subscription to new shares.

Earlier, the company also received a Public Announcement of Intention to acquire at least 41% of the issued and paid-up share capital from Taj Gasoline (Private) Limited.

It is crucial to note that HASCOL currently operates within the defaulter segment of PSX.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 156,180.94
423.57M
0.51%
796.43
ALLSHR 95,690.82
1,354.89M
0.59%
557.25
KSE30 47,714.39
199.12M
0.52%
247.40
KMI30 229,722.09
134.66M
0.91%
2076.87
KMIALLSHR 64,420.07
581.33M
0.83%
532.01
BKTi 41,969.52
122.61M
0.50%
207.74
OGTi 31,991.76
10.82M
1.18%
372.62
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,760.00 116,415.00
115,215.00
185.00
0.16%
BRENT CRUDE 67.35 67.68
67.01
-0.09
-0.13%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.15 93.50
93.15
0.30
0.32%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 63.27 63.55
62.89
-0.03
-0.05%
SUGAR #11 WORLD 15.99 16.10
15.85
-0.01
-0.06%

Chart of the Day


Latest News
September 16, 2025 at 03:53 PM GMT+05:00

NICL's profit doubles to Rs2bn, declares 20% dividend


September 16, 2025 at 02:31 PM GMT+05:00

Pakistan BCI decreases by 2.1 points in September


September 16, 2025 at 01:07 PM GMT+05:00

Gold price in Pakistan hits record Rs391,000 per tola


September 16, 2025 at 12:22 PM GMT+05:00

Saudi Riyal available at PKR 76 in open market



Top 5 things to watch in this week

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