Karachi: Intermarket Securities Limited has announced the completion of the acquisition of 2,146,228 ordinary shares, representing 0.35% of Bawany Air Products Limited’s shareholding interest, by Mohabat Khan and his associates. This acquisition was facilitated through a public offer process that commenced with the publication of a Public Announcement of Intention on July 9, 2025.

The acquisition process was managed by Intermarket Securities Limited, which published a Public Announcement of Offer on December 22, 2025. The offer, detailing the acquisition of the shares, was announced in two prominent newspapers, Business Recorder and Roznama Dunya, with a subsequent corrigendum on January 24, 2026.

According to information available from the Pakistan Stock Exchange (PSX), the share acceptance period, which began following the publication of a commencement notice on March 11, 2026, concluded on April 19, 2026. The acquisition process adhered to the requirements set out in the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

Despite a minor delay in the dispatch of payments due to administrative factors, Intermarket Securities Limited confirmed that the Acquirer has fulfilled all obligations under the Takeover Regulations. Payments have been sent to all shareholders who participated in the public offer, thus completing the acquisition process.