Karachi: In a significant move within the corporate landscape, a group of investors led by Mr. Asif Ali Shaikh has officially announced their intention to acquire an 83.96% stake in Calcorp Limited. This announcement was made public through the publication of a formal notice in prominent newspapers, The News and Daily Jung, on December 5, 2024. The acquisition bid is being conducted in concert with Mr. Muhammad Hanif Shaikh and Mr. Kashif Mumtaz, collectively referred to as the "Acquirers."

The planned acquisition follows the guidelines established by the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, specifically under Regulation 6 (5). This regulation mandates the public announcement of intentions to acquire substantial shares, ensuring transparency in corporate takeovers.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition will grant the involved parties significant control over Calcorp Limited, aligning with their strategic business objectives. The specifics of the acquisition, including any potential impacts on shareholders and the market, remain closely monitored by stakeholders and regulatory bodies.

Interested parties or those seeking further clarification regarding the acquisition process have been advised to contact the representatives of the involved investors. This move marks a pivotal development in the ongoing dynamics of corporate acquisitions within the region.