Karachi November 16 2022: IBEX will make appropriate disclosures, if and when required, in accordance with applicable laws and regulatory framework for any material information to the market and denies to comment on market rumors or speculations, informed by TRG Pakistan to its shareholders.
IBEX share price gains almost 14% since the news of acquisition.
Ibex Limited (“IBEX”), a company incorporated under the laws of Bermuda, which is partially owned by an associated undertaking of TRG Pakistan Limited (“TRG Pakistan” or the “Company”), namely The Resource Group International Limited (“TRG International”).
TRG Pakistan has no direct holding in IBEX and its interest in IBEX is held indirectly through its shareholding in TRG International. The Company’s knowledge of this matter is limited to the information that IBEX releases publicly. In fact, the online article itself refers to a statement made by persons “who asked not be identified because the information is private” which clearly suggests that the information disclosed was non-public information.
While the Company is not privy to any information regarding the matter, it subsequently sought clarification from TRG International, who has informed the Company that because IBEX is publicly traded on the NASDAQ, it is regulated by NASDAQ and US securities laws and that, as a matter of policy, IBEX does not comment on market rumours or speculation. Further, we were informed that IBEX will make appropriate disclosures, if and when required, in accordance with applicable laws and regulatory framework.
Few days ago, Bloomberg reported that business process outsourcing provider Ibex Holdings Ltd. is attracting preliminary interest from suitors including buyout firm CVC Capital Partners, people with knowledge of the matter said. CVC has been speaking to banks about financing for a potential bid, according to the people, who asked not to be identified because the information is private.