Shell Pakistan acquisition by Wafi Energy Holding faces delay

News Image

MG News | April 26, 2024 at 02:30 PM GMT+05:00

0:00

April 26, 2024 (MLN): The Public Announcement of the Offer (PAO) for acquiring a 77.42% stake in Shell Pakistan Limited by Wafi Energy Holding has been extended to July 27, 2024, the company's filing on PSX revealed. 

The original deadline to submit PAO was April 28, 2024. Arif Habib (Manager of the offer) attributed this delay to those regulatory procedures yet to be completed. 

"Wafi Energy Holding has taken all reasonable steps towards completing the necessary regulatory procedures to submit the PAO. Some of these regulatory procedures are however yet to be completed," Arif Habib wrote in a notification to exchange. 

Given the above, on behalf of the Acquirer, Arif Habib intimated to the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange that the Acquirer is extending the date for the Public Announcement of the Offer by ninety (90) days. Therefore, the time for making the Public Announcement of the Offer in respect of the Transaction is extended till July 27, 2024.

This is under Regulation 7(1) of Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 (the "Regulations").

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 139,390.42
291.21M
0.71%
978.17
ALLSHR 86,260.96
576.29M
0.65%
558.00
KSE30 42,618.60
119.41M
0.86%
363.76
KMI30 196,907.86
123.77M
1.44%
2798.27
KMIALLSHR 57,276.87
259.26M
0.99%
563.20
BKTi 37,820.27
20.77M
-0.03%
-11.06
OGTi 28,214.64
47.07M
2.82%
774.00
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,135.00 119,785.00
117,095.00
-485.00
-0.41%
BRENT CRUDE 71.72 72.82
71.00
-0.75
-1.03%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.36 70.41
68.56
-0.64
-0.91%
SUGAR #11 WORLD 16.35 16.61
16.28
-0.10
-0.61%

Chart of the Day


Latest News
July 31, 2025 at 09:37 PM GMT+05:00

Pakistan's Forex Reserves Decrease by USD 310.50 Million


July 31, 2025 at 05:47 PM GMT+05:00

Public grievance system introduced at EDB


July 31, 2025 at 05:18 PM GMT+05:00

PKR rises by 8 paisa against USD


July 31, 2025 at 04:57 PM GMT+05:00

Gold takes a Rs2,000 per tola hit



Top 5 things to watch in this week

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