Islamabad, Mar 20, 2025: The public offer for TRG Pakistan Limited’s shares by Greentree Holdings Limited is back on track following a key ruling by the Islamabad High Court.
AKD Securities Limited, serving as the offer manager, confirmed the resumption of the process in an official announcement on March 20, 2025.
Greentree Holdings Limited had initially made a public offer on January 15, 2025, to acquire up to 191,690,015 shares, equivalent to 35.147% of TRG Pakistan’s paid-up capital.
This offer was publicly announced in major newspapers on January 17, 2025.
To determine eligible shareholders, a book closure period was set from February 22 to February 28, 2025.
However, on February 24, 2025, the Islamabad High Court issued a stay order in response to a writ petition filed by Sign Source Limited and others, temporarily halting the acquisition process.
This order prevented Greentree Holdings Limited and AKD Securities Limited from proceeding with the purchase of TRG Pakistan’s shares.
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After reviewing the case, the Islamabad High Court dismissed the writ petition on March 18, 2025, ruling it as non-maintainable.
With the stay order lifted, AKD Securities Limited has officially resumed the public offer process.
This development clears the way for Greentree Holdings Limited to move forward with its acquisition plans, providing clarity for investors and stakeholders involved in the transaction.
Market analysts anticipate a renewed interest in TRG Pakistan’s stock following this legal resolution.
