Karachi: In a significant development in the construction materials sector, Cherat Cement Company Limited, in collaboration with Shirazi Investments (Private) Limited, has expressed its intention to acquire a substantial stake in Attock Cement Pakistan Limited. The proposed acquisition involves up to 115,526,349 voting shares, which represents 84.06% of the company's paid-up capital.

According to a disclosure submitted under the Takeovers Regulations of 2017, the intention to acquire these shares was officially notified to the Chief Executive of Attock Cement on June 4, 2025. This acquisition aims to surpass the threshold outlined in Section 111 of the Securities Act, 2015, pending the necessary regulatory and other approvals.

The announcement was facilitated by Topline Securities Limited, which is acting as the Manager to the Offer. The Pakistan Stock Exchange (PSX) has been requested to disseminate this information to the shareholders of Attock Cement. According to information available from the Pakistan Stock Exchange (PSX), the exchange is expected to communicate these developments through its automated information system and make a formal announcement on its platform.

This move is considered a significant event in the designated market category of construction materials, as Cherat Cement and Shirazi Investments aim to consolidate their position within the industry. The acquisition is subject to the completion of all regulatory procedures and approvals, which will be closely monitored by the stakeholders involved.