HASCOL invites Millat Group Holdings for potential acquisition

In a notification sent to the PSX on 18/12/2023, Hascol Petroleum Limited (HASCOL) disclosed that it was inviting Millat Group Holdings to carry out its due diligence to acquire a share in the company.

The Millat Energy Group, through its investment holding company “Millat Group Holdings” may acquire 76% fully diluted share capital of the company. This acquisition will happen through the subscription of shares.

Once the due diligence starts, Millat Group Holdings will have 6 weeks to submit their offer.

On the day of the announcement, HASCOL was trading at around Rs. 8.9 per share.