Sapphire Fibres eyes 75.69% stake in Rafhan Maize

MG News | May 16, 2025 at 10:10 AM GMT+05:00

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May 16, 2025 (MLN): Sapphire Fibres Limited (PSX: SFL) has disclosed its intention to acquire up to 75.69% shareholding in Rafhan Maize Products Company Limited.

The aforementioned information was disseminated through a notification to Exchange.

Furthermore, Rafhan Maize Products Company Limited, with a market capitalization of Rs85 billion, has attracted strong interest, with three parties shortlisted for the potential acquisition.

The shortlisted parties include Cherat Cement & Shirazi Investments, Nishat Group, and Sapphire Group.

This level of interest highlights Rafhan Maize’s strategic importance and its longstanding reputation as one of Pakistan’s most reputable and best-performing listed companies.

The process aims to remain competitive and transparent to maximize value for all stakeholders.

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