Samba Bank Limited has received an extension for the timeline to make a Public Announcement of Offer (PAO) for its proposed acquisition. Najd Gateway Holding Company plans to acquire 84.51 percent of the bank’s shares and control.
The extension follows ongoing negotiations and discussions between the parties. As a result, the acquirer could not make the required announcement within the original regulatory timeframe.
The new deadline for making the PAO is now November 17, 2026. The extension provides additional time for the parties to continue discussions over the proposed transaction.
Najd Gateway Seeks 84.51% Stake in Samba Bank
The proposed acquisition involves 852,040,531 ordinary shares of Samba Bank. These shares represent 84.51 percent of the bank’s total issued and paid-up capital.
The proposed transaction relates to a Public Announcement of Intention (PAI) published on February 20, 2026. An addendum to the PAI followed on March 5, 2026.
Arif Habib Limited is serving as Manager to the Offer. The firm issued the relevant notice on behalf of Najd Gateway Holding Company.
The notice was submitted to the Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX).
PAO Deadline Extended by 90 Days
Under Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, the PAO had to be made within 180 days.
The original 180-day period was scheduled to expire on August 19, 2026. However, ongoing negotiations prevented the acquirer from completing the announcement within that timeframe.
In view of the continuing discussions, Najd Gateway extended the PAO timeline by 90 days under the applicable regulation.
Consequently, the deadline has moved from August 19 to November 17, 2026. The extension allows the parties additional time to progress with the proposed acquisition.
Proposed Acquisition Remains Under Discussion
The latest development does not change the proposed size of the acquisition. Najd Gateway continues to seek 84.51 percent of Samba Bank’s issued and paid-up capital.
However, negotiations between the parties remain ongoing. Therefore, further developments will determine the next steps in the proposed transaction.
The extension also gives the acquirer additional time to meet the regulatory requirements. Meanwhile, investors will continue to monitor developments surrounding the proposed change in ownership and control of Samba Bank.
The latest notification confirms that the PAO deadline now stands at November 17, 2026. Further details are expected as negotiations progress and the acquisition process moves forward.
