Attock Cement receives $5.85m from sale of subsidiary shares

MG News | August 16, 2024 at 03:48 PM GMT+05:00

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August 16, 2024 (MLN): Attock Cement Pakistan Limited (PSX: ACPL) has received a sum of $5.85 million as consideration against the sale of further 4.5m shares held in its subsidiary Saqr AI Keetan for Cement Production Company Limited' (SAKCPCL).

The company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.

This follows ACPL's previous announcements on April 28, 2023, and June 21, 2023, regarding the sale of 9m shares for $11.7m.

Moreover, the company is now initiating the process of transfer of further 4.5m shares to one of the buyers as per the share purchase agreement under the prevailing laws of Islamic Republic of Iraq.

Accordingly, the company said that it will keep the stakeholders informed on any further update in this respect.

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