Karachi June 27 2023: Manager to the offer on behalf of JS Bank pleased to submit Acquirer's Public Announcement of Offer (PAO) to acquire 275,891,286 shares (24.88% of paid up capital) of Banklslami Pakistan Limited under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Share price of BIPL gains PKR 1.06 or 6.42 percent on Tuesday at Pakistan Stock Exchange
The highest price amongst all the scenarios is PKR 23.99/- per share at which the shares are being offered to the general public through this Public Offer.
Since the shares of the Target Company are frequently traded, the public announcement of offer shall be at the price which is highest amongst the following:
- The negotiated weighted average price under share purchase agreement(s) for the acquisition of voting shares of the target company: PKR 23.0998/- per share.
- The highest price paid by the Acquirer for acquiring the voting shares of target company during six months prior to the date of public announcement of offer is not applicable.
- The weighted average share price of target company as quoted on the securities exchange during the last 180 days preceding the date of announcement of public offer: PKR 13.47/- per share.
- The weighted average share price of target company as quoted on the securities exchange during 28 days preceding the date of public announcement of intention: PKR 11.23/- per share
- The price per share arrived at on the basis of net assets value carried out by a Chartered Accountant firm based on of audited financial data not older than six months from the date of public announcement of offer made by the manager to the offer: PKR 23.99/- per share (M/s. Yousuf Adil, Chartered Accountants, a QCR rated audit firm has provided a certificate on Net Asset Value Statement as at December 31, 2022 for this purpose).
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