Greentree Holdings Limited through its manager AKD Securities Limited has submitted a Public Announcement of Offer to acquire up to 191,690,015 ordinary shares of TRG Pakistan Limited
This share size constitutes 35.147 percent interest of the Target, in accordance with the Securities Act, 2017 (Securities Act) and the Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Regulations, 2017 (“Regulations”), AKD Securities said in a filing at PSX on Wednesday.
TRG Pakistan Limited will continue to operate as a listed company after the proposed acquisition and will continue its business operations and investments in the ordinary course, the filing added.
Greentree Holdings Limited already has 162 million shares or 30 percent stake in TRG Pakistan Limited. These shares were purchased between December 2021 and December 2024.