Extension Granted for Public Offer to Acquire Major Stake in Engro Powergen Qadirpur

Karachi: Arif Habib Limited has announced an extension in the timeline for its planned public offer to acquire a 68.89% stake in Engro Powergen Qadirpur Limited. The new deadline to submit the Public Announcement of Offer (PAO) is now set for November 24, 2024.

Initially scheduled for August 26, 2024, the extension comes as the consortium of acquirers, including Liberty Power Holding (Private) Limited, Soorty Enterprises (Private) Limited, and Procon Engineering (Private) Limited, seeks additional time to complete regulatory requirements. According to information available from the Pakistan Stock Exchange (PSX), the group had previously signaled their intent with a Public Announcement of Intention (PAI) published on February 28, 2024, followed by an Addendum on May 17, 2024.

Despite efforts to expedite the regulatory process, some procedures remain outstanding. The acquirers are committed to meeting the new deadline and have informed both the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange of the revised timeline pursuant to Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Take Overs) Regulations, 2017.

The acquirers have expressed their anticipation of continued support and a positive response as they move forward with the acquisition.

The post Extension Granted for Public Offer to Acquire Major Stake in Engro Powergen Qadirpur appeared first on .