The Pakistan General Insurance Company Limited has received an offer of acquisition of 7.64% of its shares (3,822,101 ordinary shares) by Mr Muhammad Shahzad Habib and his associates.
LSE Capital shared this development through a notice to the Pakistan Stock Exchange (PSX) on Monday.
“This is with reference to the Public Announcement of Offer to acquire 7.64% shares (i.e. 3,822,101 Ordinary Shares) of The Pakistan General Insurance Company Limited (“Target Company”) subject to a minimum acceptance level of 5.35% shares (i.e. 2,675,471 Ordinary Shares) by Mr. Muhammad Shahzad Habib and his associates/family (“Acquirer”) under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017,” read the notice.
The offer is subject to a minimum acceptance level of 5.35% shares (2,675,471 ordinary shares).
According to disclosure, offer letters and acceptance forms have been dispatched to shareholders. The acceptance window is scheduled from July 09 to July 15, 2025.
