The acceptance period for the public offer to acquire 2,146,228 ordinary shares of Bawany Air Products Limited (PSX: BAPL) closed on March 19, 2026. The offer, which represents approximately 0.35% of the company’s shareholding interest, was managed by Intermarket Securities Limited on behalf of acquirer Mohabat Khan and his Associates/Family.
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The acceptance period ran from March 13 to March 19, 2026, both days inclusive, in compliance with Regulation 18 of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Offer Details
| Aspect | Detail |
|---|---|
| Target Company | Bawany Air Products Limited (PSX: BAPL) |
| Shares Offered | 2,146,228 ordinary shares |
| Stake Represented | 0.35% of shareholding interest |
| Acquirer | Mohabat Khan and Associates/Family |
| Manager to Offer | Intermarket Securities Limited |
| Acceptance Period | March 13 – 19, 2026 |
Next Steps
All applications and shares tendered during the offer period are now subject to scrutiny and verification of requisite documentation under applicable regulatory requirements. This verification process ensures compliance with the takeover regulations and confirms that all submitted applications meet the necessary criteria.
Regulatory Framework
The public offer was conducted under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. These regulations govern acquisitions of significant shareholdings in listed companies, ensuring transparency and fair treatment of all shareholders.
About Bawany Air Products Limited
Bawany Air Products Limited (PSX: BAPL) is a Pakistani company engaged in the production and distribution of industrial and medical gases. The company serves a range of customers across Pakistan’s industrial and healthcare sectors.
About Intermarket Securities Limited
Intermarket Securities Limited is a leading Pakistani financial services firm providing investment banking, brokerage, and advisory services. The firm acted as the manager to the offer for this transaction.
