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.

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

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →