Asiapak Investments to acquire 75% stake of Lotte Chemical

MG News | August 11, 2022 at 01:02 PM GMT+05:00

0:00

August 11, 2022 (MLN): Asiapak Investments Limited has expressed its intention to acquire 75.01% of the total issued share capital of Lotte Chemical Pakistan Limited (LOTCHEM), the notice issued to PSX said today.

In this regard, Topline Securities Limited which has been appointed as Manager to the Offer has submitted the Public Announcement of Intention (PAI) on Asiapak Investments Limited’s behalf to acquire 1,135,860,105 ordinary shares of LOTCHEM.

The PAI is subject to obtaining the requisite regulatory approvals.

Currently, the stock of LOTCHEM is trading at Rs32.70 [12:54 PST], up by Rs0.16 or 0.49% compared to the previous close.

To note, Asiapak Investments Limited is an investment holding company. Through its various subsidiaries it owns, through acquisitions, controlling shareholding in Daewoo Pakistan Express Bus Service Limited and Liberty Power Limited.

The acquirer remains a minority shareholder in the Thar Coal Block1 coal mine which is a CPEC “early harvest” project.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	138,597.36 256.32M	-0.05% -68.14
ALLSHR	85,286.16 608.38M	-0.48% -413.35
KSE30	42,340.81 77.13M	-0.03% -12.33
KMI30	193,554.51 76.19M	-0.83% -1627.52
KMIALLSHR	55,946.05 305.11M	-0.79% -443.10
BKTi	38,197.97 16.53M	-0.59% -225.01
OGTi	27,457.35 6.73M	-0.94% -260.91

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	117,670.00	121,165.00 117,035.00	-1620.00 -1.36%
BRENT CRUDE	69.23	70.77 69.14	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	96.50	0.00 0.00	2.20 2.33%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.50	-0.30 -0.29%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.03	67.54 65.93	-0.20 -0.30%
SUGAR #11 WORLD	16.79	17.02 16.71	0.05 0.30%