Wafi Energy Initiates Share Acquisition Offer Period for Shell Pakistan

Karachi: Wafi Energy Holding Ltd has commenced the acceptance period for its public offer to acquire a substantial shareholding in Shell Pakistan Limited. This move follows the public announcement made on July 25, 2024, and detailed in leading national publications.

According to information available from the Pakistan Stock Exchange (PSX), Wafi Energy aims to acquire up to 24,162,179 shares, representing 11.29% of the total shareholding. The offer letters, essential for shareholders to participate, were dispatched following the announcement, setting the stage for a significant shift in ownership dynamics within the energy sector.

The acceptance period for this public offer is set from September 13, 2024, to September 19, 2024. In alignment with regulatory requirements, the commencement of this period was advertised on September 11, 2024, in both the Business Recorder and Nawa-i-Waqt newspapers, ensuring all stakeholders are informed and have the opportunity to respond.

This strategic acquisition reflects Wafi Energy’s ongoing efforts to consolidate its position in the energy market, while also providing shareholders of Shell Pakistan an opportunity to react to the new corporate offer. Regulatory compliance has been meticulously adhered to, with actions taken in accordance with Regulation 18 of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

For further information or clarification, representatives from Arif Habib Limited, managing the offer on behalf of Wafi Energy, are available, underscoring the commitment to transparency and shareholder engagement during this pivotal transaction.