A consortium of business entities has retracted its public announcement of intention (PAI) to acquire a 68.89 percent stake in Engro Powergen Qadirpur Limited (EPQL), listed on the Pakistan Stock Exchange (PSX).
Arif Habib Limited, acting as the Manager to the Offer, informed the stock exchange today that the PAI, initially made by Liberty Mills Limited, Zain Ashraf Mukaty, Temoor Ashraf Mukaty, Ahmed Ashraf Mukaty, Soorty Enterprises (Pvt) Limited, Affinity Capital Pvt Limited, Najeeb Malik, Nadeem Malik, and Shahzad Malik, has been withdrawn. The original announcement was dated February 26.
The withdrawal comes as the deadline for making a public announcement of the offer approaches, set to expire on November 24, 2024. Arif Habib Limited stated that this step is being taken to ensure compliance with legal requirements. For further information or clarification, interested parties are encouraged to contact the undersigned.
Engro Powergen Qadirpur Limited is an independent power producer operating a 217 MW permeate gas-based plant in Qadirpur. Engro Corporation, through its subsidiary Engro Energy Limited, holds a 68.9 percent stake in EPQL.
