Mobilink Microfinance Bank Announces Intent to Acquire Apna Microfinance Bank

Mobilink Microfinance Bank Limited has announced its intention to acquire voting shares and gain control of Apna Microfinance Bank Limited, according to a notification submitted by Arif Habib Limited to the Pakistan Stock Exchange.

In connection with the proposed transaction, Arif Habib Limited has been appointed as the Manager to the Offer.

The announcement was made in accordance with the provisions of the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

On behalf of the acquiring bank, Arif Habib Limited submitted a Public Announcement of Intention (PAI) to acquire voting shares and control of Apna Microfinance Bank.

As required under regulatory guidelines, the Public Announcement of Intention will also be published in one English-language and one Urdu-language newspaper within two working days of the notification.

The filing marks the formal start of the takeover process. However, further details regarding the size of the stake to be acquired and the financial terms of the transaction have not yet been disclosed.