Maple Leaf tightens grip on Pioneer Cement

February 20, 2026 (MLN): In a strategic consolidation move within Pakistan’s cement sector, Maple Leaf Cement Factory Limited (MLCF) has significantly increased its shareholding in Pioneer Cement Limited (PIOC) through a public offer.

According to a disclosure submitted to the Pakistan Stock Exchange Limited (PSX), MLCF acquired 26,623,096 (26.62 million) shares of PIOC under the provisions of the Securities Act, 2015 and the takeover regulations.

This purchase came on top of 17,321,046 (17.32 million) shares already held, taking MLCF’s direct ownership to 43,944,142 (43.94 million) shares, equivalent to 19.35% of PIOC’s ordinary shares.

When combined with holdings of its associated companies, MLCF’s collective stake in Pioneer Cement has climbed to 30.25%.

This would strengthen its influence over the company and signal a potential long-term strategic alignment between the two cement producers.

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