Karachi: Cherat Cement Company Limited has published a corrigendum to its prior public announcement, dated May 08, 2025, regarding its intent to acquire a substantial shareholding and joint control of Rafhan Maize Products Company Limited. This announcement pertains to Cherat Cement's proposed acquisition of up to 6,991,052 shares, which represents 75.69% of Rafhan Maize's shareholding interest.

According to information available from the Pakistan Stock Exchange (PSX), this move by Cherat Cement is set to significantly alter the ownership landscape of Rafhan Maize Products. The designated market category for this transaction is critical, as it involves a Very large or significant move in share acquisition, impacting the control and strategic direction of Rafhan Maize.

The corrigendum, which includes details of the acquisition intention, was disseminated through newspapers, ensuring that stakeholders and market participants are informed of the developments in this prospective acquisition deal. This notification marks a pivotal step in the procedural requirements for such an acquisition under the regulatory framework governing public companies in Pakistan.

The investment community and stakeholders within the cement and maize product sectors will closely monitor the progress of this acquisition, given its potential impact on market dynamics and the strategic operations of both Cherat Cement and Rafhan Maize Products.