Key Takeaways
- Cherat Cement Company Limited aims to acquire at least 30% of Nimir Industrial Chemicals Limited.
- The proposed acquisition covers 33.177 million shares of Nimir Industrial Chemicals.
- The deal is subject to regulatory approvals and due diligence.
Cherat Cement Company Limited (PSX: CHCC) has announced its intention to acquire at least a 30 percent stake in Nimir Industrial Chemicals Limited (PSX: NICL), according to a public announcement made to the Pakistan Stock Exchange.
The proposed acquisition involves the purchase of at least 33.177 million shares of NICL, representing a significant investment in the company.
Any public offer, if required, will be made in accordance with the applicable takeover regulations, ensuring transparency and compliance with legal standards.
The transaction is subject to regulatory approvals, finalization of commercial terms, due diligence, and the execution of the necessary agreements.
CHCC stated that its Chief Executive Officer, Azam Faruque, is the ultimate controlling shareholder, and the company currently has no existing holding in NICL.
Nimir Industrial Chemicals Limited, with 110.59 million issued ordinary shares, has major shareholders including Zafar Mahmood (19.72%), Muhammad Yahya Khan (11.89%), and Khalid Mumtaz Qazi (11.53%).
Financially, Nimir reported net sales of Rs. 48.291 billion and a profit after tax of Rs. 2.393 billion for the fiscal year 2026, with total assets of Rs. 35.996 billion and equity of Rs. 11.534 billion.
The proposed transaction remains subject to the completion of the required regulatory and corporate processes, with the final terms and any public offer to be determined at a later stage.
Cherat Cement is part of the Ghulam Faruque Group and manufactures and markets Ordinary Portland and composite cement under the Cherat and Cherat Khyber brands, with a plant in Nowshera capable of producing 4.5 million tons a year.
Nimir Industrial Chemicals was incorporated in 1994 as Ravi Alkalis Limited and listed on the Pakistan Stock Exchange in 1996, before adopting its current name in 1998. The company specializes in the manufacture of oleochemicals and chlor-alkali products, including soap noodles, stearic acid, glycerin, caustic soda, and hydrochloric acid.
