Novatex withdraws PAI for acquisition of LOTCHEM's 75.01% shareholding

MG News | January 09, 2023 at 10:26 AM GMT+05:00

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January 09, 2023 (MLN): Lotte Chemical Pakistan Ltd (PSX: LOTCHEM) has received the notice to withdraw Public Announcement of Intention (PAI) from Novatex Limited through its manager to offer Arif Habib Limited, the company's filing on PSX said.

Earlier, on July 13, 2023, Novatex Limited submitted PAI to acquire control of 75.01% shares of LOTCHEM.

At the time of writing, the scrip of the company is being traded at Rs24.79 down by 4.87% DoD.

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