Asiapak Investments to acquire 75% stake of Lotte Chemical

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

Add Mettisglobal as a Trusted Source on Google

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	173,886.69 195.81M	-0.85% -1493.18
ALLSHR	104,193.90 1,478.56M	-0.79% -830.04
KSE30	50,762.89 101.57M	-1.61% -833.18
KMI30	248,644.12 78.76M	-1.03% -2588.32
KMIALLSHR	67,289.90 391.02M	-0.79% -536.64
BKTi	47,836.07 30.16M	-1.03% -497.73
OGTi	34,437.26 6.66M	-1.07% -371.75

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	74,675.00	76,150.00 73,515.00	-1280.00 -1.69%
BRENT CRUDE	97.91	98.43 96.57	-0.41 -0.42%
RICHARDS BAY COAL MONTHLY	127.25	0.00 0.00	0.25 0.20%
ROTTERDAM COAL MONTHLY	136.50	0.00 0.00	2.45 1.83%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	90.92	91.42 89.80	0.09 0.10%
SUGAR #11 WORLD	18.25	0.00 0.00	0.01 0.05%