Karachi: Intermarket Securities Limited has confirmed the publication of a Public Announcement of Intention (PAI) concerning the acquisition of Bawany Air Products Limited. The announcement, made on July 9, 2025, details the intentions of Mr. Mohabbat Khan and other associated acquirers to secure voting shares and consequent control over the company. This development follows the submission of the PAI on July 8, 2025, as part of the procedural requirements outlined in the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The PAI was disseminated through prominent daily newspapers, including Business Recorder and Roznama Dunya, ensuring widespread communication of the acquisition intent to stakeholders and the general public.

According to information available from the Pakistan Stock Exchange (PSX), the announcement marks a significant move in the designated market category. The PAI serves as a formal notification of the acquirers' intent, aligning with regulatory standards for substantial acquisitions in the region.

The acquisition process is now set to proceed in accordance with the regulatory framework designed to oversee substantial acquisitions and ensure transparency and fairness in the market. Further developments regarding the acquisition will emerge as the parties involved navigate the requisite legal and procedural steps.