RMS (Private) Limited wants to acquire a majority stake in Baluchistan Wheels Limited (PSX: BWHL), the auto-parts maker informed the Pakistan Stock Exchange.
“It is hereby informed that M/s. Baluchistan Wheels Limited (“the Company”) has received a Notice of Public announcement of Intention from RMS (Private) Limited through its Manager to the Offer, i.e M/s. Arif Habib Limited, to acquire control of 8,474,907 voting shares (representing approximately 63.56% of paid-up capital) of the Company”, the filing stated.
According to the public announcement of intention (PAI) submitted by RMS Pvt Limited, the following table offers a brief description of the intended acquisition:
| Intended Acquisition Through | Number of Shares | Percentage |
| Agreement(s) | 8,474,907 | 63.56% |
| Public Offer | 2,429,672 | 18.22% |
“On behalf of the Acquirer, we are pleased to submit a Public Announcement of Intention to acquire up to 63.56% shares of Baluchistan Wheels Limited (the “Target Company”) by RMS (Private) Limited,” said Manager to Offer Arif Habib Limited subsequent to the PAI.
RMS was incorporated as a private limited company on October 5th, 2007. The principal business of the company is to offer construction services. It is a traditional construction company registered with Pakistan Engineering Council in Category C-A.
Baluchistan Wheels Limited was incorporated in Pakistan on 16 June 1980. The company is engaged in manufacturing and marketing automotive wheel rims for trucks, buses, tractors, cars, and mini-commercial vehicles.
At the time of filing, BWHL’s scrip was Rs. 93.48, up 7.5 percent or Rs. 6.52 with a turnover of 9,000 shares on Tuesday.
