KARACHI: Gillette Pakistan Limited’s majority shareholder, Series Acquisition BV, has offered to buy all remaining shares held by minority investors at Rs700 per share as part of a plan to delist the company from the Pakistan Stock Exchange (PSX).
In a notice to the exchange on Tuesday, Gillette Pakistan said Series Acquisition BV would purchase shares held by investors other than the sponsor shareholders. The offer price of Rs700 per share has been approved by the PSX in accordance with its regulations.
The share purchase offer will remain open from March 12 to May 10, 2026, both days inclusive. Following the completion of the offer period, the company intends to proceed with its delisting from the exchange.
The offer applies to all shareholders, including those holding physical share certificates as well as investors whose shares are maintained as book-entry securities in the Central Depository System of the Central Depository Company of Pakistan.
Gillette Pakistan had formally applied to the exchange in November last year seeking approval for voluntary delisting and proposing to buy back shares held by minority shareholders at Rs216.49 per share.
The buyback process was initiated by Procter & Gamble Company, which holds 91.72 per cent of Gillette Pakistan through its subsidiary Series Acquisition B.V.Under the original proposal, the majority shareholder planned to acquire about 2.64 million shares, representing roughly 8.28 per cent of the company’s paid-up capital held by minority investors, at a minimum price of Rs216.49 per share.However, the PSX’s Voluntary Delisting Committee rejected the proposed price and instead set a significantly higher minimum buyback price of Rs700 per share for the transaction.
