Karachi: Intermarket Securities Limited has been appointed as the Manager to the Offer for a substantial acquisition of shares in Bawany Air Products Limited, according to a public announcement of intention released on July 8, 2025. The acquisition, spearheaded by Mr. Mohabat Khan and other investors, aims to secure up to 98.76% of the total issued and paid-up capital of the target company. This translates to an estimated 600.00 million ordinary shares.

The public announcement is set to be published on July 9, 2025, in both an English-language and an Urdu-language daily newspaper, fulfilling the regulatory obligations stipulated under the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The designated market category for this transaction is the stock exchange sector.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition move reflects a very large or significant move in the market. This development is poised to have substantial implications for stakeholders and could influence market dynamics within the industry.

Intermarket Securities Limited emphasized their readiness to provide further details or clarifications as required, indicating a commitment to transparency and regulatory compliance throughout the transaction process. The acquisition proposal highlights the strategic investment interests of the acquirers in Bawany Air Products Limited, signaling potential shifts in corporate control and operational direction for the company.