Karachi: The acceptance period for a public offer to acquire shares in Bawany Air Products Limited (BAPL) by Mohabat Khan and his associates has officially concluded. The offer, which aimed to acquire 2,146,228 ordinary shares constituting 0.35% of BAPL’s shareholding interest, reached its expiration on March 19, 2026. This marked the end of a carefully orchestrated acquisition process that began with a public announcement on December 22, 2025.

The offer was managed by Intermarket Securities Limited and was accompanied by notices published in several prominent newspapers, including the Business Recorder and Roznama Dunya, both English and Urdu dailies. A corrigendum to the initial announcement was also published on January 24, 2026, ensuring stakeholders were well-informed about the forthcoming changes.

According to information available from the Pakistan Stock Exchange (PSX), the acceptance period commenced on March 13, 2026, allowing shareholders a window to tender their shares. The process adhered strictly to Regulation 18 of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, ensuring compliance with all necessary legal and procedural requirements.

The minimum level set for the public offer was 0.25%, equivalent to 1,502,360 ordinary shares. As the acceptance period has now closed, all applications and shares submitted will undergo a thorough scrutiny process. This examination is in line with regulatory standards to verify the submitted documentation and ensure the legitimacy of the transactions.

Once the scrutiny and verification processes are completed, final statistics regarding the acquisition will be communicated to the relevant regulatory authorities. The current phase marks a significant step in the transaction, as stakeholders await the completion of these formalities.