Karachi: In a significant financial maneuver, Maple Leaf Cement Factory Limited has expanded its stake in Agritech Limited, now holding a total of 42.07% of the company's ordinary shares. The transaction, executed through the Pakistan Stock Exchange (PSX), underscores Maple Leaf Cement Factory Limited's strategic interest in Agritech Limited as a substantial shareholder.

On January 15, 2025, Maple Leaf Cement Factory Limited acquired a substantial number of shares in Agritech Limited, executing two significant buy transactions. The first transaction involved the purchase of 22.00 million shares at a rate of Rs.40.51 per share, while the second transaction included the acquisition of 17.54 million shares at a rate of Rs.22.05 per share. These transactions were conducted through the Central Depository Company (CDC) in the Negotiated Deal Market (NDM) segment.

According to information available from the Pakistan Stock Exchange (PSX), the total cumulative shareholding of Maple Leaf Cement Factory Limited now stands at 139.96 million shares, representing a 32.96% stake in Agritech Limited. The purchase was facilitated by a financial arrangement where a nominal value of Rs.0.05 per share was quoted through a negotiated deal market while the remaining purchase consideration of Rs.22 per share was previously settled with a financial institution.

With this latest acquisition, Maple Leaf Cement Factory Limited, along with its group entity, holds a collective stake of 42.07% in the ordinary shares of Agritech Limited. This strategic move signals the company's commitment to strengthening its influence and investment portfolio within Agritech Limited, marking a significant development in the market dynamics of the designated market category.