Asiapak no longer interested to buy LOTCHEM stake

MG News | January 24, 2023 at 02:59 PM GMT+05:00

0:00

January 24, 2023 (MLN): AsiaPak Investments Limited has withdrawn its interest to acquire 75.01% voting shares and control of Lotte Chemical Limited (LOTCHEM), a notice by the company to PSX on Tuesday showed.

In this regard, Topline Securities Limited as the Manager to Offer on behalf of AsiaPak withdraw the Public Announcement of Intention (PAI), published on 15 August 2022.

On August 11, 2022, Asiapak has expressed its intention to acquire 75.01% which is 1,135,860,105 of the total issued share capital of LOTCHEM.

To note, Asiapak is an investment holding company. Through its various subsidiaries, it owns, through acquisitions, controlling shareholding in Daewoo Pakistan Express Bus Service Limited and Liberty Power Limited.

Currently, the stock of LOTCHEM is valued at Rs25.52, up by Rs1.16 or 4.76%.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,692.49 162.00M	-0.18% -291.59
ALLSHR	97,919.24 589.24M	-0.28% -270.69
KSE30	49,080.07 50.96M	-0.17% -81.29
KMI30	230,184.09 53.45M	-0.28% -645.71
KMIALLSHR	63,462.88 224.57M	-0.42% -269.19
BKTi	43,898.94 17.87M	-0.15% -66.83
OGTi	31,421.67 4.93M	-0.57% -181.03

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,050.00	88,770.00 86,135.00	-2125.00 -2.38%
BRENT CRUDE	62.64	63.36 61.60	-0.73 -1.15%
RICHARDS BAY COAL MONTHLY	85.00	0.00 0.00	0.05 0.06%
ROTTERDAM COAL MONTHLY	96.30	0.00 0.00	0.45 0.47%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	58.11	58.96 57.10	-0.73 -1.24%
SUGAR #11 WORLD	14.90	14.97 14.79	0.08 0.54%