Greentree Holdings Limited has announced a public offer to acquire up to 35.147% shareholding in TRG Pakistan Limited, representing 191,690,015 ordinary shares.
AKD Securities Limited, acting as the Manager to the Offer, confirmed that the acquisition complies with the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
“On behalf of Greentree Holdings Limited (the “Acquirer”), AKD Securities Limited as the Manager to the Offer (“MTO”), is submitting herewith a copy of Public Announcement of Offer to acquire up to 191,690,015 ordinary shares of TRG Pakistan Limited (the “Target”) constituting 35.147% shareholding interest of the Target, in accordance with the Securities Act, 2017 (“Securities Act”) and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 (“Regulations”), read a notice sent by AKD Securities to the PSX.
The required documents, including the final Public Announcement of Offer, have been submitted to the Securities and Exchange Commission of Pakistan (SECP) as per regulatory requirements.
The public announcement is scheduled to be published in newspapers on January 17, 2025.
On December 23, Greentree Holdings announced its intention to acquire 35.145% control of TRG Pakistan.
The intended acquisition by the acquirer is through a public offer of 50% of free float shares (35% of the total outstanding shares) in TRG Pakistan.
Post-acquisition, the acquirer intends to acquire 64.7% shareholding and control in TRG Pakistan.
Greentree Holdings Limited was incorporated as an exempt company in Bermuda on August 13, 2020. It is a wholly-owned subsidiary of a Bermuda incorporated company, The Resource Group International Limited, which is an investment holding company.
