Karachi: Lotte Chemical Pakistan Limited has received a Notice of Public Announcement of Offer for the acquisition of approximately 189.17 million ordinary shares. This development follows the earlier Notice of Public Announcement of Intention published on February 17, 2025, and its subsequent addendum published on July 8, 2025. These notices outline the intention to acquire a significant portion of Lotte Chemical's shares.

According to the details made available, the recent offer aims to acquire up to 189.17 million ordinary shares of Lotte Chemical Pakistan Limited. This represents 12.49% of the issued ordinary share capital of the company. The offer has been made by Arif Habib Limited, acting as the Manager to the Offer on behalf of AsiaPak Investments Limited and Montage Oil DMCC, collectively referred to as the Acquirers.

The previous Public Announcement of Intention had outlined a broader plan to acquire up to approximately 1.14 billion ordinary shares of the company. The latest offer, however, focuses on a specific portion of the share capital, marking a Moderate move in the acquisition process. According to information available from the Pakistan Stock Exchange (PSX), this offer is part of a structured acquisition strategy under the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The acquisition process is being carried out in collaboration with PTA Global Holding Limited, acting as the Acquirer, alongside Liberty Daharki Power Limited and Daewoo Pakistan Express Bus Service Limited, acting in concert. These entities are collectively participating in the acquisition process as per the provisions of the Takeover Regulations.

The offer document, along with all required documents under Section 7 (5) of the Regulations, has been dispatched to the relevant offices. The announcement of the offer will also be published in Business Recorder and Nawa-i-Waqt newspapers on July 12, 2025, ensuring that stakeholders and the public are informed of the ongoing acquisition activities.

The designated market category for this acquisition is the Pakistan Stock Exchange, which oversees the regulatory compliance and procedural aspects of such transactions. The acquisition offer marks a significant step in the potential change of ownership within the company, following the regulatory framework established by the Securities Act, 2015.