Nishat Hotels issues corrigendum on Rafhan Maize acquisition plan

MG News | July 29, 2025 at 11:36 AM GMT+05:00

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July 29, 2025 (MLN): Nishat Hotels and Properties Limited has issued a Corrigendum to its earlier Public Announcement of Intention (PAI) regarding its plan to acquire up to 6.9 million shares (75.69% of paid-up capital) and control of Rafhan Maize Products Company Limited (PSX: RMPL).

The original intention was disclosed on May 14, 2025, the company's filing on PSX revealed today.

The PAI was published in Business Recorder and Nawa-e-Waqt on May 16, 2025.

RMPL was incorporated in Pakistan. Ingredion Incorporated Chicago. U.S.A., holds majority shares of the Company.

The Company uses maize as the basic raw material to manufacture and sell a number of industrial products, principal ones being industrial starches, liquid glucose, dextrose, dextrin and gluten meals.

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