Lahore High Court (“LHC”) ki taraf se 10 January 2023 ko di gayi alag hone ki manzoori ke mutabiq, Treet Battery Limited (“TBL”) aur First Treet Manufacturing Modaraba (“FTMM”) ke joint petition ke jawab mein, TBL ne FIMM se alag ho kar ordinary shares ko FTMM ke members ko dene ke baad alag ho gaya hai.

TBL ko Pakistan Stock Exchange (“PSX”) par list karne ke liye Article 6 – Joint Petition ke General Provisions ke mutabiq, TBL ke Board of Directors ne TBL ke share ki opening price ke tor par PKR 10.00 tay kiya hai, ya’ni TBL ke share ki face value ke mutabiq. Yeh tajaweez is taur par tay ki gayi hai:

A – 52 hafton ke doran FTMM ki Volume Weighted Average Price (“52 Weeks VWAP”)

B – FTMM ke Total Non-Current Assets ka Battery Business Assets (Non-Current Assets) ke weightage – Lahore High Court ki manzoori ke din, April 1, 2023 = PKR 12.61 per share ~90.80%

C – Battery Business Assets ke weightage ke mutabiq 52 Weeks VWAP (A x B) = PKR 11.45 per share

D – TBL ki Proposed opening price  = PKR 10.00 per share

E – Battery Business Assets ke weightage ke mutabiq 52 Weeks WVAP ki discount = ~13%

TBL ki rceommendation ke mutabiq, TBL ki opening price PKR 10.00 per share hai, jo ke Battery Business Assets ke 52 Weeks VWAP ke weightage ke mutabiq tay ki gayi hai, aur isme ek Reduction bhi shamil hai – approx ~13%…