Rafhan Maize receives acquisition intent from Nishat Hotels

By MG News | Category Equity | May 15, 2025 at 10:32 AM GMT+05:00

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May 15, 2025 (MLN): Rafhan Maize Products Company Limited (PSX: RMPL) has received a formal intention from Nishat Hotels and Properties Limited to acquire up to 6,991,052 voting shares, which account for 75.69% of the company’s paid-up capital.

This proposed acquisition exceeds the limits set under section 111 of the Securities Act, 2015, the company's filing on PSX revealed today.

The Target Company's board of directors was informed of this development on May 14, 2025.

In accordance with regulation 5(1), the securities exchange is requested to promptly share this information with the shareholders by displaying it on the notice board, posting it on the automated information system, and making a formal announcement through the house of the exchange.

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