Karachi: In a significant development in the energy sector, Shell Pakistan Limited has received a notice from Arif Habib Limited, acting as the manager on behalf of Wali Energy Holding Limited, regarding a public offer to acquire 11.29% of its total issued share capital. This offer, announced on July 25, 2024, involves the acquisition of up to 24,162,179 ordinary shares of Shell Pakistan.

According to information available from the Pakistan Stock Exchange (PSX), the offer is made under the regulations of the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. This move by Wali Energy Holding Limited aims to secure a substantial stake in Shell Pakistan, aligning with strategic business interests in the region's energy market.

The notification to Shell Pakistan is part of the procedural requirements stipulated by sections 96 and 131 of the Securities Act 2015, and clause 5.6.1 of the PSX Rule Book. The material information regarding this offer was disclosed to ensure transparency and regulatory compliance in the dealings.

Shell Pakistan has advised informing the TRE Certificate Holders of the exchange about this potential change in shareholding, which could impact the company’s ownership structure and possibly influence its future operations in Pakistan's energy landscape.