P&G exit: Gillette Pakistan offers Rs700 per share to minority shareholders
- GLPL initially proposed to purchase shares from public shareholders at Rs216.49 per share
Gillette Pakistan Limited’s (GLPL) majority shareholder, Series Acquisition B.V. (SABV), has offered to purchase all remaining shares held by minority investors at Rs700 per share as part of the company’s planned delisting from the Pakistan Stock Exchange (PSX).
“This is to inform all the minority shareholders that Series Acquisition B.V. (SABV), the majority shareholder of Gillette Pakistan Limited has decided to purchase all the shares of the Company held by others, other than those held by the sponsor,” GLPL said in a notice to the PSX on Tuesday.
“SABV is offering to buy the shares of the Company for Rs700 per share. This purchase price has also been approved by the Pakistan Stock Exchange Limited in accordance with its regulations,” it said.
The notice read that the share purchase offer will be valid from March 12th, 2026, to May 10th, 2026, both days inclusive.
“After this period, it is intended that the company will be delisted from the PSX
“This offer is valid for all shareholders of the company i.e. those shareholders holding physical share certificates and those shareholders whose shares are held as book-entry security in the Central Depository System of the Central Depository Company of Pakistan Limited (CDC),” it added.
Last year in November, Gillette Pakistan Limited formally applied to the PSX for delisting and approval to purchase shares held by minority shareholders, proposing to purchase shares from public shareholders at Rs216.49 per share.
Its majority shareholder, Procter & Gamble (P&G) Company, which holds 91.72% of Gillette Pakistan’s shareholding through its subsidiary SABV, initiated the buyback process.
Under the proposed plan, SABV intends to purchase 2,638,059 shares — approximately 8.28% of the company’s paid-up capital held by minority shareholders — at a minimum price of Rs216.49 per share.
However, the Voluntary Delisting Committee (VDC) of the PSX rejected the Gillette Pakistan Limited (GLPL) sponsors’ proposed buyback price of Rs216.49 per share and instead set a much higher minimum buyback price of Rs700 per share for GLPL.
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