KAPCO submits Binding Offer to acquire majority stake in Attock Cement

MG News | August 19, 2025 at 01:08 PM GMT+05:00

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August 19, 2025 (MLN): Marking a major step forward in the proposed joint acquisition with Fauji Foundation (FF), Kot Addu Power Company Limited (PSX: KAPCO) has formally submitted a binding offer to Pharaon Investment Group Limited S.A.L for the acquisition of its entire 84.06% shareholding in Attock Cement Pakistan Limited (ACPL).

The offer, made for an approved consideration, follows KAPCO’s earlier disclosure on June 3, 2025, and the Public Announcement of Intention issued through Integrated Equities Limited, Manager to the Offer.

The transaction aims to secure joint control of ACPL, a leading player in Pakistan’s cement sector.

According to the breakdown provided:

Purchaser	No. of Shares	Percentage of Paid-Up Capital
Fauji Foundation	57,763,175 ordinary shares	42.03%
Kot Addu Power Company	57,763,174 ordinary shares	42.03%
Total	115,526,349 shares	84.06%

The binding offer remains subject to the Seller’s acceptance, execution of the share purchase agreement, and fulfilment of regulatory approvals and other conditions precedent.

KAPCO has submitted the required Disclosure Form under SRO 143(1)/2012, in compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the PSX Rule Book.

The company has also notified the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan (SECP) accordingly.

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