Karachi: JD Taurus (Private) Limited has requested an extension for the timeline to publicly announce its offer to acquire shares in Saudi Pak Consultancy Company Limited, according to a report filed by Intermarket Securities Limited on November 10, 2026. The acquisition, involving 15,835,403 ordinary shares representing 35.06% of Saudi Pak Consultancy, is a significant transaction in the financial sector.

The public announcement of intention by JD Taurus was initially published on May 16, 2026, and later corrected on June 30, 2026. The deadline for making the Public Announcement of Offer, according to Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, was set to expire on November 12, 2026.

JD Taurus has indicated that additional time is required to complete the necessary steps for the acquisition. As a result, the company has instructed its Manager to the Offer, Intermarket Securities Limited, to extend the period for the Public Announcement of Offer by 90 days, moving the deadline to February 10, 2027. This request was made through a letter dated November 6, 2026.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition process involves compliance with various regulatory requirements under the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The extension request has been communicated to the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange Limited.

JD Taurus remains committed to completing the acquisition in accordance with the Takeover Regulations. The extension is crucial for the acquirer to ensure all procedural and regulatory requirements are met satisfactorily before proceeding with the public offer.