Greentree Holdings to acquire TRG Pakistan shares worth $52 million

Greentree Holdings Bermuda — indirect subsidiary of The Resource Group International — has issued a public offer to acquire 35.147% additional stake in TRG Pakistan at the price of PKR 75 per share.

“Through this public offer, The Resource Group International plans to invest up to $52 million in Pakistan, which will provide additional liquidity to shareholders of TRG Pakistan,” according to a filing to the Pakistan Stock Exchange.

Greentree already holds 29.7% or 162.01 million shares in TRG Pakistan, and this acquisition of additional 191.69 million shares would raise its holdings to 65%.

TRG Pakistan will continue to operate as a listed company after the proposed acquisition and will continue its business operations and investments in the ordinary course.

Airlink's notice

Meanwhile, Air Link Communication announce that its subsidiary Select Technologies is launching Xiaomi TVs in Pakistan.

SELECT will distribute and manufacture Xiaomi's TVs at its production facility.

This effort aligns with AIRLINK's goal to boost local production to make products more accessible and affordable for consumers nationwide.

OGDC's notice

Further, the Oil & Gas Development Company (OGDC) has started production at the Kharo-1 well.

It's currently producing 20 barrels of oil and 5 million cubic feet of gas per day. The well is connected to the OGDCL Sinjhoro Processing Plant with a new pipeline, and the gas is now part of the SSGC network.

OGDCL has a 95% interest in the Khewari Block, while Government Holding Private Limited (GHPL) has 5%. The well is located in Khairpur District, Sindh.