Karachi: Fauji Cement Company Ltd. (FCCL) and Kot Addu Power Company Ltd. (KAPCO) have announced a public offer to acquire up to 7.97 percent of ordinary shares in Attock Cement Pakistan Ltd. (ACPL) at a rate of PkR330.41 per share. This follows the companies' agreement to purchase an 84.06 percent stake in ACPL from its parent company, Pharaon Investment Group Holding, signed on January 30, 2026.
According to AKD Securities Limited, the public offer will be available from April 6 to April 12, 2026, with the total potential investment amounting to PkR3.62 billion, assuming full acceptance. The acquisition will be financed through cash, with FCCL and KAPCO's total investment, including the public offer, reaching approximately PkR20.9 billion. FCCL and KAPCO have substantial cash reserves of PkR19.0 billion and PkR37.7 billion, respectively, positioning them well for the acquisition. This strategic move is expected to bolster FCCL's presence in the cement sector by gaining access to the southern market through ACPL, while KAPCO aims to diversify its investment portfolio following the conclusion of its Independent Power Producer contract.
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