Karachi: The planned acquisition of Grays Leasing Limited by OM International (Pvt.) Ltd has been called off following an unfavorable due diligence process, according to a statement released by Darson Securities (Pvt.) Ltd on November 4, 2025.

OM International had initially expressed its intention to acquire up to 75.43% of shares and control of Grays Leasing Limited, as outlined in a Public Announcement of Intention (PAI) dated July 29, 2025. The process included subsequent updates through corrigenda published on August 16, 2025, and September 3, 2025.

Following the due diligence, OM International decided to withdraw from the acquisition, a move aligned with Regulation 21(1) of the governing Regulations and applicable legal provisions. As mandated by Regulation 21(2), a formal announcement regarding the withdrawal was disseminated on November 1, 2025, in the same publications that carried the original PAI: The Nation and Jehan Pakistan.

According to information available from the Pakistan Stock Exchange (PSX), the intended acquisition by OM International was part of a broader strategy within the designated market category to expand its footprint in the financial services sector. The withdrawal, however, marks a significant pivot in OM International's acquisition endeavors concerning Grays Leasing Limited.