External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Engro Corporation (ENGRO) in notice to exchange today informed that Engro Energy Limited (EEL), a wholly owned subsidiary of ENGRO has entered into definitive agreements with Liberty Power Holding (Pvt.) Limited (wholly owned subsidiary of Liberty Mills Limited) for sell of its entire: (1) 68.9% shareholding in Engro Powergen Qadirpur Limited (EPQL), (2) 50.1% shareholding in Engro Powergen Thar (Private) Limited (EPTL), and (3) 11.9% shareholding in Sindh Engro Coal Mining Company Limited (SECMC).</li><li>The transaction values of EEL's shareholdings are as; (1) EPQL: Rs7.5bn, (2) EPTL: Rs21.04bn, and (3) SECMC: Rs6.21bn with total value of Rs35bn. This is one of the largest acquisition in recent history of Pakistan.</li><li>We in our report titled Engro Corporation Limited (ENGRO) - "Buy", Selling Thermal Assets to Unlock Value; issued on Jan 06, 2024 highlighted exactly same that ENGRO is planning to sell its majority of its stake in thermal assets for a cash consideration of approximately Rs35bn.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Engro Corporation (ENGRO) in notice to exchange today informed that Engro Energy Limited (EEL), a wholly owned subsidiary of ENGRO has entered into definitive agreements with Liberty Power Holding (Pvt.) Limited (wholly owned subsidiary of Liberty Mills Limited) for sell of its entire: (1) 68.9% shareholding in Engro Powergen Qadirpur Limited (EPQL), (2) 50.1% shareholding in Engro Powergen Thar (Private) Limited (EPTL), and (3) 11.9% shareholding in Sindh Engro Coal Mining Company Limited (SECMC).The transaction values of EEL's shareholdings are as; (1) EPQL: Rs7.5bn, (2) EPTL: Rs21.04bn, and (3) SECMC: Rs6.21bn with total value of Rs35bn. This is one of the largest acquisition in recent history of Pakistan.We in our report titled Engro Corporation Limited (ENGRO) - "Buy", Selling Thermal Assets to Unlock Value; issued on Jan 06, 2024 highlighted exactly same that ENGRO is planning to sell its majority of its stake in thermal assets for a cash consideration of approximately Rs35bn.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Equity - Engro Corporation; ENGRO selling its thermal assets, one of the largest deal