Beacon Impex (Private) Limited made an offer to acquire 32.7% stake in Khurshid Spinning Mills Limited on May 7, 2018. Under the terms of the offer, Beacon Impex (Private) Limited made an offer to acquire 4.3 million shares of Khurshid Spinning Mills Limited. In a related transaction, Beacon Impex (Private) Limited intends to acquire 4.5 million shares representing 34.5% stake in Khurshid Spinning Mills Limited through agreement. Post completion of both the transactions, Beacon Impex (Private) Limited will hold up to 67.25% stake in Khurshid Spinning Mills Limited. The transaction is subject to obtaining all relevant corporate and regulatory approvals. As of January 30, 2019, tender offer will run from March 19, 2019 to March 25, 2019. Muhammad Abdullah and Salman Virani of BMA Capital Management Ltd. acted as financial advisor for Beacon Impex (Private) Limited. Beacon Impex (Private) Limited cancelled the acquisition of 32.7% stake in Khurshid Spinning Mills Limited on May 7, 2019.