Islamabad: Arif Habib Limited (AHL) has officially completed the acquisition of a significant shareholding in Shell Pakistan Limited, marking a pivotal shift in ownership within the Pakistani energy sector. On October 7, 2024, AHL announced the successful closure of its public offer, acquiring 24.16 million shares, which constitute 11.29% of Shell Pakistan's issued and paid-up capital.

The acquisition process, initially publicized in April through announcements in Business Recorder and Nawa-i-Waqt, aligns with AHL's strategic plans to diversify and strengthen its holdings in the energy market. According to information available from the Pakistan Stock Exchange (PSX), the transaction was carried out in compliance with the 2015 Securities Act and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations of 2017.

The public offer, amounting to a significant 11.29% stake in Shell Pakistan, was launched following a detailed public announcement of intention on July 25, 2024, indicating AHL's strategic move to acquire the shares at an agreed-upon price. The acceptance period for this offer concluded successfully on September 19, 2024, with payments made to shareholders who tendered their shares.

This acquisition marks an important development in the Pakistani energy sector, potentially influencing future market trends and alignments within the industry. The completion of this transaction underscores AHL's commitment to expanding its footprint in the energy domain, positioning it as a key player in the regional market.