Tariq Glass Industries Limited (PSX: TGL) wants to buy up to 20.47 million ordinary shares (7.82 percent) of Balochistan Glass Limited (PSX: BGL), the company informed the Pakistan Stock Exchange on Thursday.

AKD Securities Limited, (Manager to the Offer) submitted a public Announcement of Offer on August 10, 2023, on behalf of TGL to acquire up to 7.8279 percent shares and Joint Control of Balochistan Glass Limited subject to a minimum acceptance level of 5.4795 percent shares followed by the purchase of 50 percent ordinary shares of M/s MMM Holding (Private) Limited which holds 84.34 percent voting shares of Balochistan Glass Limited, a listed company, according to the filing.

TGL made this public announcement of the offer with AKD Securities Limited (AKDS) as manager, under the applicable provisions of the Listed Companies for the acquisition of shares as mentioned above.

The company’s scrip at the bourse closed at Rs. 88.85, up 0.07 percent or Rs. 0.06 with a turnover of 350,297 shares on Thursday.

Source: Pro Pakistani