Restated announcement of intention by Lucky Core Ventures to acquire Lotte Chemical

News Image

By MG News | September 21, 2023 at 03:51 PM GMT+05:00

0:00

September 21, 2023 (MLN): Lucky Core Ventures (Private) Limited has amended and restated its earlier public announcement of Intention (PAI) to acquire approximately 75.01% shares of Lotte Chemical Pakistan Limited, the latest company's filing to then PSX showed today.

To note, Lucky Core had earlier made a PAI on May 02, 2023, wherein the company announced its intention to acquire 1,135,860,105 ordinary shares of Lotte Chemical Pakistan Limited representing approximately 75.01% of the total issued share capital of the target company.

Description of the intended acquisition:

Intended acquisition through

Number of shares

Percentage

Agreement(s)

1,135,860,105 shares

Approximately 75.01% of the paid-up share capital of the Target Company

Public Offer

189,200,191 shares

Approximately 12.495% of the paid-up share capital of the Target Company

Lucky Core is currently a wholly-owned subsidiary of Lucky Core Industries Limited (PSX: LCI) and has been incorporated to act as a special-purpose vehicle through which LCI intends to carry out and promote its prospective growth project(s).

Going forward, up to 49% shareholding of LCV may be collectively acquired by Yunus Textile Mills Limited (YTML), Lucky Textile Mills Limited (LTML), and Lucky Cement Limited (LCL).

The shareholding proportion of each of the said entities shall be determined at a later stage, prior to or post public offer.

Direct majority shareholding and control of the Acquirer is however intended to remain with LCI.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 105,945.00 106,200.00
105,440.00
195.00
0.18%
BRENT CRUDE 67.23 67.29
67.05
0.12
0.18%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.53 65.65
65.34
0.08
0.12%
SUGAR #11 WORLD 15.70 16.21
15.55
-0.50
-3.09%

Chart of the Day


Latest News
July 02, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 01, 2025 at 10:04 PM GMT+05:00

Pakistan’s trade deficit improves by over 9% in June


July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola



Top 5 things to watch in this week

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