In a significant development regarding the ongoing public offer for TRG Pakistan Limited, Greentree Holdings Limited has announced a further extension of the acceptance period for acquiring up to 35.147 percent shares and gaining control of TRG Pakistan Limited. This decision follows a directive from the Sindh High Court, as communicated by AKD Securities Limited, the designated Manager to the Offer.
The move comes as part of a continued legal and procedural process, with AKD Securities confirming that the acceptance period has been officially extended under an interim order issued by the Honorable High Court of Sindh on April 10, 2025. The extension was granted through the court order JCM No.12 of 2025, in light of ongoing judicial considerations that may influence shareholder decisions regarding the acquisition. According to the official stock exchange filing released on Tuesday, the acceptance window, which initially commenced on March 25, 2025, and was originally set to end on April 4, was first revised to April 15 and has now been extended further to April 25, 2025. The public tender offer will continue to operate on all working days, from 9:00 AM to 5:00 PM.
The decision to extend the timeline is rooted in the acquirer’s intention to provide adequate time and clarity for TRG Pakistan’s shareholders, particularly as legal proceedings evolve. It is intended to ensure that shareholders are not discouraged from participating due to uncertainty surrounding the court case or time constraints. This public offer by Greentree Holdings Limited marks a pivotal moment in the ownership dynamics of TRG Pakistan Limited, a company with notable investments in technology and business process outsourcing sectors. The outcome of this acquisition process is likely to have long-term implications on the company’s governance and strategic direction.
The extension, now confirmed through formal legal endorsement, provides a broader window for shareholders to assess the offer, seek professional advice, and make informed decisions about tendering their shares. Market analysts believe that the legal clarity and extended timeframe may contribute to greater shareholder participation, adding momentum to the transaction. With the offer still open, all eyes remain on the response of TRG Pakistan’s shareholders and the evolving legal landscape, which will collectively shape the future control and management structure of the company
