Maple Leaf to command over 69% of Pioneer Cement

MG News | December 18, 2025 at 01:34 PM GMT+05:00

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December 18, 2025 (MLN): Maple Leaf Cement Factory Limited (PSX: MLCF) is poised to take firm control of Pioneer Cement Limited, with its total shareholding set to exceed 69%, following a fresh public offer announced today.

Pioneer Cement informed the Pakistan Stock Exchange that it has received a Public Announcement of Public Offer from Next Capital Limited, acting as Manager to the Offer on behalf of Maple Leaf Cement, to acquire up to 26.62 million shares.

This represents 11.72% of the company’s issued and paid-up share capital.

Furthermore, this offer is in addition to the already-agreed acquisition of 131.82 million shares, equivalent to 58.03%, under a Share Purchase Agreement signed on December 17, 2025.

Upon completion of both transactions, Maple Leaf Cement’s aggregate stake in Pioneer Cement will rise to more than 69%, effectively placing the company under Maple Leaf’s control.

The latest move follows Maple Leaf’s Public Announcement of Intention dated November 13, 2025, and is being carried out in line with the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

Acquisition through	No. of Shares	Percentage	Price per share
Share Purchase Agreement(s)	131,820,554	58.03%	Rs 478.43 per share*
Public Offer	26,623,096	11.72%	Rs 478.43 per share*

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