A consortium of business entities has withdrawn its public announcement of intention (PAI) to acquire a 68.89 percent stake in Engro Powergen Qadirpur Limited (PSX: EPQL).
Manager to the Offer Arif Habib Limited informed the main bourse today that the PAI made by Liberty Mills Limited, Zain Ashraf Mukaty, Temoor Ashraf Mukaty, Ahmed Ashraf Mukaty, Soorty Enterprises (Pvt) Limited, Affinity Capital Pvt Limited, Najeeb Malik, Nadeem Malik, and Shahzad Malik (“Acquirer(s)”) dated February 26 has now been withdrawn.
“The time period for making the public announcement of offer will lapse on November 24, 2024 (Expiry Date),” AHL said.
This process of withdrawal is being undertaken to ensure compliance with the law. You may contact the undersigned for any additional information or clarification.
EPQL is an independent power producer that operates a 217 MW permeate gas-based plant in Qadirpur. Engro Corporation (PSX: ENGRO) through Rngro Energy Limited holds a 68.9 percent stake in EPQL.
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