Fauji Cement, KAPCO kick off Attock Cement takeover

April 02, 2026 (MLN): In a key development for Pakistan’s cement sector, Fauji Cement Company Limited (PSX: FCCL) and Kot Addu Power Company Limited (PSX: KAPCO) have officially dispatched offer letters and acceptance forms to all shareholders of Attock Cement Pakistan Limited (ACPL), signaling the commencement of the public offer process.

The acceptance period for the takeover bid is set to begin, with the official public announcement scheduled for April 4, 2026, according to the company's statement issued today.

This marks a significant milestone in the process, signaling the next stage of the acquisition.

The offer is being managed by Integrated Equities Limited on behalf of the joint acquirers.

Earlier, Fauji Cement and KAPCO made a  public offer to acquire 10.95 million ordinary shares, representing 7.97% of Attock Cement.

The offer price was set at Rs330.41 per share, with the acceptance window originally scheduled for a limited period.

Payments for accepted shares will be made within 10 days of the closing date, and proportional allocation will apply if shareholder participation exceeds the targeted number of shares.

This follows a binding offer submitted by KAPCO to acquire a majority 84.06% stake in Attock Cement from the Pharaon Investment Group in August 2025.

The acquisition required regulatory approvals, including clearance from the Competition Commission of Pakistan, and compliance with the Securities Act and PSX takeover regulations.

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