Karachi: An addendum to the Public Announcement of Intention (PAI) for the acquisition of a majority stake in Lotte Chemical Pakistan Limited was issued, detailing significant changes in the parties involved in the transaction. The original intent to acquire approximately 75.01% of Lotte Chemical Pakistan Ltd.'s shares was announced by AsiaPak Investments Limited and Montage Oil DMCC on February 17, 2025. However, the addendum reveals that PTA Global Holding Limited will now assume the role of the acquirer.

According to the information provided by Arif Habib Limited, the manager to the offer, PTA Global Holding Limited will replace the original acquirers, AsiaPak Investments Limited and Montage Oil DMCC. The new acquisition plan involves the purchase of up to 1,135,860,105 ordinary shares of Lotte Chemical Pakistan Ltd. This strategic move comes amid changes in the capital ownership structure of the initial acquirers.

The transition of the acquirer to PTA Global Holding Limited will be complemented by Liberty Daharki Power Limited and Daewoo Pakistan Express Bus Service Limited, acting in concert. This development aligns with the regulatory frameworks established under the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition process is subject to compliance with the relevant provisions. The addendum further emphasizes that the acquisition strategy is designed to ensure a smooth transition of control within the regulatory parameters.

The public announcement and subsequent addendum represent a significant move within the financial market category, reflecting a change in the ownership trajectory of Lotte Chemical Pakistan Ltd. The acquisition aims to strengthen the position of the New Acquirer in the regional chemical manufacturing sector, leveraging the resources and strategic advantages provided by the stakeholders involved.