Rice tycoon Asif Ali Shaikh plans to take over Calcorp

MG News | February 20, 2024 at 01:45 PM GMT+05:00

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February 20, 2024 (MLN): JS Global Capital Limited, acting as manager to the offer for Asif Ali Shaikh, has submitted a public announcement of intention to acquire approximately 9,020,473 ordinary shares of Calcorp Limited (PSX: CASH), representing 83.96% of the total issued and paid-up capital of the Target Company.

Calcorp’s principal line of business is that of a general purpose holding company capable of making investments in a range of marketable securities, intellectual property, and other assets plied for hire.

Asif Ali Shaikh is the senior managing partner of Asif Rice Mills (ARM) which is the second-largest rice exporting firm in Pakistan.

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