Meskay & Femtee extends acquisition due date for Mandviwalla Mauser

MG News | October 31, 2024 at 12:19 PM GMT+05:00

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October 31, 2024 (MLN): Meskay & Femtee Trading Company (Private) Limited has extended its due date by 90 days to acquire approximately 74% shareholding and control of Mandviwalla Mauser Plastic Industries Limited.

Consequently, the new due date for the Public Announcement of the Offer for this acquisition is now set for March 10, 2025.

The extension is due to the pending completion of share price calculation and valuation to determine the Net Asset Value (NAV), as well as ongoing approval from the Competition Commission of Pakistan (CCP).

Intermarket Securities Limited, the Manager to Offer issued a Public Announcement of Intention to the SECP, PSX and the Target Company on June 11, 2024.

"The Acquirer is hopeful and making all its best efforts to complete the required steps for making said Public Announcement of Pubiic Offer by or before the said New Due Date," the notice reads.

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