In a notification sent to PSX on 03/04/2024, Pakistan Refinery Limited (PRL) and Air Link Communication Limited (AIRLINK) have decided not to go ahead with their plan to buy a big chunk of shares of Shell Pakistan Limited (SHEL).
The negotiations with Shell Pakistan Limited didn’t work out, PRL and AIRLINK are now backing out of their plan to acquire 77.42% of Shell Pakistan Limited’s shares. The acquirers have withdrawn the intention to acquire a controlling interest in Shell Pakistan Limited.
The notification sent to the PSX said:
However, negotiations with the seller could not materialize, therefore, the Acquirers hereby withdraw the intention to acquire 77.42% shares and control of Shell Pakistan Limited under Regulation 21(1)(b) of the Listed Companies
The shares of PRL and AIRLINK were trading at Rs. 26.15 and Rs. 61.80 respectively.
AGP Limited (AGP) monthly market structure is showing strong bullish trend. Even this stock broke…
When a dividend is paid, the share price drops by approximately the same amount because…
On November 5, 2024, Mughal Iron & Steel Industries Limited (MUGHAL) announced a unique rights…
How to analyze pharma sector companies in PSX. Pakistan's pharma sector is considered a complicated…
Shifa International (SHFA) has already rallied 150%, but there is still more upside to the…
Habib Metropolitan Bank Limited (HMB) recently released its second-quarter results for 2024, revealing a mixed…