MLCF acquires 15.08% shareholding in PIOC with 9.5mn voting shares

News Image

Nilam Bano | March 13, 2023 at 11:12 AM GMT+05:00

March 13, 2023 (MLN): In a surprising move, Maple Leaf Cement Factory Limited (MLCF) has made a bold acquisition by purchasing a whopping 9,500,000 voting shares of Pioneer Cement Limited (PIOC) which has sent shockwaves throughout the industry.

With this acquisition, the Acquirer - comprising MLCF, Maple Leaf Capital Limited (MLCL), and the Chief Executive Officer of MLCL is holding a massive 34,261,001 voting shares in the target company, which amounts to a 15.08% aggregate shareholding in the share capital of PIOC.

The Acquirer's increased shareholding in the target company is expected to give them a greater say in key decision-making processes, as well as provide them with a valuable opportunity to expand their operations and reach in the industry.

This bold move by MLCF has left industry insiders in a frenzy, with many eagerly speculating about the potential implications of this acquisition.

Despite the excitement surrounding this acquisition, many are also closely watching the potential implications for Pioneer Cement Limited and its shareholders, as the company's future now rests in the hands of the Acquirer.

MLCFL is one of the leading cement manufacturing companies in Pakistan and has a strong reputation for producing high-quality cement.

Similarly, PIOC is also a prominent player in the cement industry and is known for its innovative approach to business.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 165,596.07
264.75M
-0.54%
-902.76
ALLSHR 100,017.71
623.24M
-0.46%
-463.69
KSE30 49,464.92
86.97M
-0.60%
-299.08
KMI30 238,952.40
97.00M
-0.58%
-1388.16
KMIALLSHR 65,314.16
323.73M
-0.44%
-285.47
BKTi 44,788.98
46.84M
-0.77%
-347.65
OGTi 35,107.09
7.04M
-0.41%
-145.22
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 79,165.00 0.00
0.00
-45.00
-0.06%
BRENT CRUDE 109.47 109.75
106.26
3.75
3.55%
RICHARDS BAY COAL MONTHLY 110.00 0.00
0.00
-2.95
-2.61%
ROTTERDAM COAL MONTHLY 109.00 109.00
108.75
1.25
1.16%
USD RBD PALM OLEIN 1,191.50 1,191.50
1,191.50
0.00
0.00%
CRUDE OIL - WTI 101.16 0.00
0.00
0.14
0.14%
SUGAR #11 WORLD 14.78 15.07
14.67
-0.21
-1.40%

Chart of the Day


Latest News
May 17, 2026 at 11:39 AM GMT+05:00

Jewelers back FIA against financial crimes


May 16, 2026 at 04:25 PM GMT+05:00

Jet Green Airlines eners operational readiness phase


May 16, 2026 at 03:02 PM GMT+05:00

Weekly Market Roundup


May 16, 2026 at 12:05 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


May 16, 2026 at 12:38 AM GMT+05:00

Petrol, Diesel prices slashed by Rs5



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg