Mobilink Microfinance Bank Limited has extended the deadline for making a public offer to acquire shares and control of Apna Microfinance Bank Limited by another 90 days, as discussions and negotiations surrounding the proposed transaction remain ongoing. The original deadline for the Public Announcement of Offer (PAO) was September 8, 2026, but the new deadline has been set for December 7, 2026. The extension was communicated through a notice submitted by Arif Habib Limited, which is acting as the manager to the offer. The development indicates that the parties involved have not yet completed the discussions required to finalise the proposed acquisition.
Mobilink Microfinance Bank had published its Public Announcement of Intention (PAI) on March 12, 2026, concerning its proposed acquisition of shares and control of Apna Microfinance Bank. According to the notice, negotiations and discussions between the parties are still underway, with both sides continuing to work toward finalising the transaction. The acquisition process is being conducted under Pakistan’s takeover regulations, requiring the relevant announcements and procedures to be completed within prescribed timelines. The latest extension provides additional time for the parties to continue discussions and work through the remaining requirements related to the proposed transaction.
Arif Habib Limited stated that Mobilink Bank would not be able to make the public offer within the initial 180 day period prescribed under Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. In response, the microfinance bank exercised its right under the applicable regulations to extend the PAO period by a further 90 days. The Securities and Exchange Commission of Pakistan and Pakistan Stock Exchange were informed about the extension. The revised deadline now gives Mobilink Bank until December 7, 2026, to proceed with the public offer under the extended period.
The proposed acquisition dates back to March 10, 2026, when Mobilink Microfinance Bank announced its intention to acquire shares and control of Apna Microfinance Bank through Arif Habib Limited, which was appointed as the manager to the offer. The transaction is being pursued under Pakistan’s takeover regulations and would involve the acquisition of shares and control of Apna Microfinance Bank. The latest extension does not indicate that the proposed transaction has been cancelled; rather, the parties remain engaged in negotiations and are continuing efforts to finalise the acquisition.
Apna Microfinance Bank was incorporated in 2003 and started its operations in January 2005. The bank’s principal business is providing microfinance services to poor and underserved segments of society under the Microfinance Institutions Ordinance, 2001. Its operations have focused on providing financial services to sections of the population that have traditionally had limited access to conventional banking facilities. The proposed acquisition by Mobilink Microfinance Bank would therefore involve two institutions operating within Pakistan’s microfinance sector, with Mobilink seeking to acquire shares and control of the bank.
Mobilink Microfinance Bank has been operating since 2012 and serves more than 57 million registered users. The bank is headquartered in Islamabad and is backed by VEON Ltd, the global telecom and digital operator that is also the parent company of Jazz. VEON Microfinance Holdings B.V. holds 99.99% of Mobilink Microfinance Bank’s shares. The bank has developed a large customer base through its financial services and digital banking operations, giving it a significant presence within Pakistan’s microfinance and branchless banking market.
Mobilink Microfinance Bank also provides branchless banking services through partnerships with Pakistan Mobile Communications Limited and JC Fintech (Private) Limited. The bank has an authorised capital of Rs13.6 billion and paid up capital of Rs4.13 billion. With the proposed acquisition of Apna Microfinance Bank still under discussion, the extension of the public offer deadline provides additional time for the parties to complete negotiations and determine the next steps. The transaction remains subject to the applicable regulatory requirements and the completion of the ongoing discussions before the public offer can proceed.
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