Novatex to purchase 75% stake of LOTCHEM
MG News | July 07, 2022 at 10:41 AM GMT+05:00
July 07, 2022 (MLN): Novatex Limited has submitted a Public Announcement of Intention (PAI) to acquire 75.01% shares of Lotte Chemical Pakistan Limited (LOTCHEM) wherein Arif Habib Limited has been appointed as the Manager to the Offer by Novatex Limited, the notice issued to Pakistan Stock Exchange said.
According to PAI, Novatex will acquire 75.01% or 1.14 billion shares and control of LOTCHEM through a non-binding offer.
However, this acquisition is subject to obtaining the requisite regulatory approvals.
The principal business of Novatex is to manufacture and sell PET Resin and other types of Resin, PET Preforms and BOPET film.
Currently, the stock of LOTCHEM (Target company) is trading at Rs26 [10:44 PST], up by 77 paisa or 3.05% DoD.
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 171,725.29 261.56M | 2.31% 3881.05 |
| ALLSHR | 103,214.49 498.64M | 2.00% 2024.02 |
| KSE30 | 51,517.14 135.33M | 2.40% 1209.13 |
| KMI30 | 246,565.71 111.44M | 2.29% 5524.54 |
| KMIALLSHR | 67,042.77 274.55M | 1.94% 1273.86 |
| BKTi | 47,299.71 43.26M | 3.04% 1394.54 |
| OGTi | 36,341.37 10.64M | 2.20% 783.44 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 73,890.00 | 74,115.00 73,860.00 | 535.00 0.73% |
| BRENT CRUDE | 93.31 | 98.20 92.60 | -0.98 -1.04% |
| RICHARDS BAY COAL MONTHLY | 110.00 | 0.00 0.00 | -8.25 -6.98% |
| ROTTERDAM COAL MONTHLY | 112.85 | 0.00 0.00 | -0.05 -0.04% |
| USD RBD PALM OLEIN | 1,157.50 | 1,157.50 1,157.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 88.54 | 88.80 88.26 | -0.36 -0.40% |
| SUGAR #11 WORLD | 13.92 | 14.21 13.86 | -0.22 -1.56% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|