Karachi: D.G. Khan Cement Company Limited, along with its affiliates, has finalized a significant acquisition, obtaining a 51.04% shareholding in Rafhan Maize Products Company Limited. This transaction, formalized under a Share Purchase Agreement dated September 25, 2025, and amended on December 29, 2025, involves the purchase of 4,713,831 shares from Ingredion Incorporated USA, a major shareholder in Rafhan Maize.

The acquisition, completed through various entities within the Nishat Group, includes contributions from D.G. Khan Cement Company Limited itself, which acquired 287,000 shares. Other participants such as Nishat Hotels and Properties Limited and Nishat Chunian Power Limited acquired 103,280 shares and 137,622 shares, respectively. Notable individual shareholders such as Mr. Hassan Mansha, Mr. Umer Mansha, and Mr. Raza Mansha each acquired 123,638 shares. The transaction was conducted at a price of 9,800 Pakistani Rupees per share in electronic form.

In a broader strategic move, the Purchasers have also committed to acquiring additional ordinary shares from the Monnoo family, totaling 1,900,441 shares. This agreement, outlined in various Share Purchase Agreements dated November 2025, includes acquisitions by companies such as Pakgen Limited and Nishat Mills Limited, purchasing 618,294 and 305,906 shares, respectively.

According to information available from the Pakistan Stock Exchange (PSX), the transaction marks a substantial consolidation of ownership within the designated market category. This move is expected to have significant implications for the involved entities, potentially affecting future market positions and company strategies.

This acquisition represents a critical step for D.G. Khan Cement Company Limited and its affiliates, as they expand their holdings in the food sector, aligning with broader strategic objectives. The completion of these transactions is set for June 30, 2026, marking a new phase in the company's growth trajectory.