AKD Securities Announces Resumption of TRG Pakistan Limited Public Offer

AKD Securities Limited, acting as the manager of the offer, announced the resumption of the public offer for shares of TRG Pakistan Limited by Greentree Holdings Limited, following a recent ruling by the Islamabad High Court. The announcement was made on March 20, 2025, clarifying the timeline and details of the transaction. On January 15, 2025, Greentree Holdings Limited made a public announcement to acquire up to 191,690,015 shares, representing 35.147% of TRG Pakistan’s paid-up share capital. This announcement was subsequently published in major newspapers on January 17, 2025. A book closure period to determine eligible shareholders for the public offer was held 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. The stay order prevented Greentree Holdings Limited and AKD Securities Limited from purchasing shares of TRG Pakistan Limited. On March 18, 2025, the Islamabad High Court dismissed the writ petition as not maintainable, leading to the lifting of the stay order. As a result, AKD Securities Limited, acting as the manager to the offer, announced the resumption of the public offer.