Categories: News

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.

Jabran Kundi

Jabran Kundi is the leader of the KSEStocks team. He is currently a regular contributor on Insider Monkey and Yahoo Finance, covering the US stock market. As a bilingual stock market enthusiast, Jabran has also worked extensively covering the German and UK stock markets. Lately, he has been focused on the Pakistan Stock Exchange, which is where he envisioned the creation of this platform.

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