RMS to acquire 63.56% stake in BWHL

MG News | August 07, 2023 at 05:30 PM GMT+05:00

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August 07, 2023 (MLN): RMS (Private) Limited has made a public announcement to acquire up to 63.56% ordinary shares of Baluchistan Wheels Limited (PSX: BWHL), Arif Habib Limited (PSX: AHL’s) filing on PSX revealed today.

AHL is appointed as the manager to offer by RMS Limited, in accordance with the provision of the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The principal business of RMS Limited is to offer construction services and is registered with Pakistan Engineering Council in Category C-A.

While BWHL is engaged in the manufacturing and marketing of automotive wheel rims for trucks, buses, tractors, cars, and mini-commercial vehicles.

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