Islamabad, Sep 20: Wafi Energy’s acquisition of shares in Shell Pakistan Limited has been conditionally successful following the public offer’s acceptance period.
The Acquirer’s public offer came with an acceptance period that expired on September 19, 2024. The quantity of shares tendered during the acceptance period was over the required level of acceptance for a conditional offer (16,913,525) but below the public offer threshold of 24,162,179, Arif Habib Limited reported to PSX on Friday.
According to the filing, all stockholders who have tendered their shares will be considered successful once the necessary paperwork is completed. This news relates to the Saudi oil company’s Public news of Offer (PAO) to purchase up to 24,162,179 ordinary shares of Shell Pakistan Limited, or around 11.29 percent of Shell’s total holdings. In July of this year, media outlets published the PAO for the first time.
