Millat Global Holdings withdraws PAI for Hascol's acquisition

News Image

By MG News | June 21, 2024 at 12:26 PM GMT+05:00

0:00

June 21, 2024 (MLN): Arif Habib Limited (PSX: AHCL) has withdrawn the Public Announcement of Intention (PAI) for Millat Global Holdings Limited to acquire at least 76% shareholding of Hascol Petroleum Limited (PSX: HASCOL).

Arif Habib informed market participants through a notice issued to the Pakistan Stock Exchange (PSX) in its capacity as the Manager of the Offer.

The PAI has been withdrawn as the deadline for announcing the offer lapsed on June 16, 2024.

Moreover, this process of withdrawal is being undertaken to ensure compliance with the law. You may contact the undersigned for any additional information or clarification.

It is worth highlighting here that back in March 2024, the Board of Directors (BoD) of HASCOL 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.

Additionally, 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.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 132,724.13
98.16M
-0.51%
-679.06
ALLSHR 83,022.05
543.11M
-0.20%
-166.01
KSE30 40,400.33
35.28M
-0.62%
-251.12
KMI30 191,117.65
39.67M
-0.50%
-966.27
KMIALLSHR 55,725.89
278.31M
-0.22%
-121.80
BKTi 36,223.65
6.20M
-0.55%
-199.22
OGTi 28,287.49
7.25M
-0.53%
-150.12
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,225.00 109,545.00
108,625.00
10.00
0.01%
BRENT CRUDE 70.10 70.13
69.85
-0.05
-0.07%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.05
2.15%
ROTTERDAM COAL MONTHLY 106.65 106.65
106.25
0.50
0.47%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.27 68.31
67.78
-0.06
-0.09%
SUGAR #11 WORLD 16.15 16.37
16.10
-0.13
-0.80%

Chart of the Day


Latest News

Top 5 things to watch in this week

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