Attock Cement stake sale draws Binding Offers

MG News | August 19, 2025 at 03:40 PM GMT+05:00

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August 19, 2025 (MLN): Attock Cement Pakistan Limited (PSX: ACPL) has confirmed that its majority shareholder, Pharaon Investment Group Limited Holding S.A.L., is actively progressing with the proposed sale of its stake in the company.

In a formal disclosure to the Pakistan Stock Exchange (PSX), ACPL revealed that multiple binding offers have been received and are currently under evaluation.

The update, issued under Section 96 of the Securities Act, 2015 and PSX Rule Book Regulation 5.6, underscores the transparency of the transaction process.

Pharaon Investment Group, headquartered in Jeddah, Saudi Arabia, stated that it is reviewing the commercial terms of each bid with the support of financial and legal advisors.

This update confirms that the transaction process remains active and is progressing in an orderly manner.

The group reiterated its commitment to keeping stakeholders informed of any material developments.

The news came amid heightened investor interest in Pakistan’s cement sector, with strategic acquisitions and foreign investment reshaping industry dynamics.

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