Karachi: AKD Securities Limited has announced an extension in the acceptance period for Greentree Holdings Limited's public offer to acquire up to 35.147% shares and control of TRG Pakistan Limited. The extension, which extends the deadline to May 15, 2025, was issued by the Honorable High Court of Sindh according to Court Order JCM No.12 of 2025, dated April 28, 2025.

The initial acceptance period for the offer began on March 25, 2025, with an original ending date of April 4, 2025. This was subsequently revised multiple times, with the latest extension moving the deadline from May 5, 2025, to May 15, 2025. The extensions aim to ensure that shareholders are not deterred from participating in the tender offer due to ongoing court proceedings.

According to information available from the Pakistan Stock Exchange (PSX), the decision to extend the acceptance period was made to accommodate shareholders amid the legal context surrounding the acquisition bid.

AKD Securities Limited is acting as the Manager to the Offer on behalf of Greentree Holdings Limited. The extension is endorsed under the interim order, reflecting compliance with legal directives and market regulations.

The designated market category for this transaction involves the acquisition of a significant stake in TRG Pakistan Limited, a company engaged in technology and business process outsourcing. The extension of the acceptance period allows more time for shareholders to consider their participation in the offer, aligning with the court's directives to maintain transparency and fairness during the acquisition process.