TGL offers to acquire 7.82% stake in Balochistan Glass

MG News | August 10, 2023 at 02:30 PM GMT+05:00

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August 10, 2023 (MLN): On behalf of Tariq Glass Industries Limited (PSX: TGL), AKD Securities Limited as the Manager to the Offer submitted the Public Announcement of Offer to acquire up to 20.47 million ordinary shares of Balochistan Glass Limited (PSX: BGL) constituting 7.82% of the issued share capital.

This is subject to the minimum acceptance level of 5.47% share followed by the purchase of 50% shares of MMM Holding which holds 84.34% shares of BGL.

The aforesaid development is in accordance with the Securities Act, 2017 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

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