Pakistan, July 7 -- Pakistan General Insurance Company Limited has received an official acquisition offer for 7.64% of its shares from Mr. Muhammad Shahzad Habib and his associates. The proposed acquisition includes 3,822,101 ordinary shares and is subject to a minimum acceptance level of 5.35%, which equals 2,675,471 shares.
LSE Capital disclosed the offer through a notice to the Pakistan Stock Exchange (PSX) on Monday. The acquisition offer falls under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
The notice stated that the public announcement of the offer has been made and is now awaiting responses from shareholders. Offer letters and acceptance forms have ...