Karachi: Bawany Air Products Limited has announced a revised public offer for the acquisition of a 0.35% shareholding, corresponding to 2,146,228 ordinary shares, as part of a strategic move by Mr. Mohabbat Khan and his family. This development was detailed in a corrigendum to the Public Announcement of Offer dated December 19, 2025, and was issued in response to observations from the Securities and Exchange Commission of Pakistan.

The corrigendum, published on January 23, 2026, outlines the amended terms of the acquisition offer, which was initially published in the Business Recorder and Daily Dunya newspapers on December 22, 2025. The revised offer has been set at a price of PKR 51 per share, reflecting the highest price paid by the acquirer for the company’s shares as of August 7, 2025. The offer remains subject to a minimum acceptance level of 0.25%, equating to 1,502,360 ordinary shares.

According to information available from the Pakistan Stock Exchange (PSX), the updated offer notice has been prominently displayed on the PSX Notice Board. The corrigendum and addendum to the original public offer will be published in the same newspapers on January 24, 2026, ensuring comprehensive disclosure and compliance with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The designated market category for this transaction involves the public acquisition of shares, with the acquirer, Mr. Mohabbat Khan, seeking to consolidate his holding in the company. As per the corrigendum, a bank guarantee amounting to PKR 109,500,000 has been secured in favor of the Manager to Acquisition, in line with Section 123 of the Securities Act, 2015.

The public offer will be open for acceptance from March 13, 2026, to March 19, 2026, with specific hours stated for the period during which shareholders can accept the offer. The terms stipulate that any acceptance received after the specified closing time on the final day will not be entertained, and the offer period will not be extended.

This strategic acquisition move by Mr. Khan and his associates underscores an effort to strengthen their position in Bawany Air Products Limited while adhering to the regulatory framework as outlined by the Pakistani authorities.