Next Capital Limited, on behalf of Muhammad Anis Mianoor (Acquirer/Client), has submitted Acquirer’s Public Announcement of Intention to acquire additional 49.9 percent shares and control of Johnson and Phillips Pakistan Limited, said Head of Investment Banking and Advisory, Umer Habib.
The Acquirer, Muhammad Anis Mianoor, already holds (535000) 9.8 percent shares of the target company.
According to a notice sent to Pakistan Stock Exchange, Next Capital Limited has been appointed as Manager to the Offer by the Acquirer for the transaction.
The public announcement of intention is to be published in one English and Urdu newspaper on November 29th, 2018.
JOPP’s shares at the bourse closed at Rs63.10, up by 5 percent or Rs3 with a turnover of 26000 shares on Tuesday.
Anis Mianoor has rich experience of more than three decades in the textile related industry in Pakistan and in other countries. His vast repertoire in this field ranges from manufacturing to the trading of textiles and its related machinery, which has helped him acquire deep insight and expertise into the trading of textile machinery and the manufacturing sector as well.
He has been responsible for the upgradation of the technology for various Pakistani textile groups ranging from top corporate entities like the YB Group, Lucky Textiles, Nishat Group, Sapphire Group etc. to independent manufacturers.