TGL acquires major share in BGL

News Image

By MG News | May 26, 2023 at 03:50 PM GMT+05:00

0:00

May 26, 2023 (MLN): Tariq Glass Industries Limited (PSX: TGL) has signed a Share Purchase Agreement with Baluchistan Glass Limited (BGL) to acquire 50% voting shares of MMM Holding (Private) Limited (MMM) which holds 84.34% voting shares of BGL.

This agreement is subject to obtaining all the requisite corporate and regulatory approvals and compliance with all applicable laws.

On March 21, 2023, TGL expressed its intention to acquire 50% of the voting shares of MMM Holding (Private) Limited, which currently holds 78.61% of the voting shares of Balochistan Glass Limited, a listed company.

On behalf of TGL, AKD Securities Limited, (Manager to the Offer) had submitted a public Announcement of Intention, in accordance with the Securities Act, 2015. 

Tariq Glass is a leading manufacturer of glass containers in Pakistan, with a wide range of products including tableware, pharmaceutical bottles, and glass bottles for the beverage industry.

Balochistan Glass Limited, on the other hand, is a listed company engaged in the manufacturing and sale of glass containers for the food and beverage industry.

This acquisition is expected to strengthen Tariq Glass Industries Limited's position in the glass container market in Pakistan and provide an opportunity to diversify its product portfolio.

The acquisition will also provide Tariq Glass Industries Limited with access to Balochistan Glass Limited's extensive customer base and distribution network.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 106,040.00 106,200.00
105,440.00
290.00
0.27%
BRENT CRUDE 67.13 67.29
67.05
0.02
0.03%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.42 65.65
65.34
-0.03
-0.05%
SUGAR #11 WORLD 15.70 16.21
15.55
-0.50
-3.09%

Chart of the Day


Latest News
July 02, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 01, 2025 at 10:04 PM GMT+05:00

Pakistan’s trade deficit improves by over 9% in June


July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola



Top 5 things to watch in this week

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