Karachi: Lotte Chemical Pakistan Ltd. has disclosed a significant corporate development with its entry into a Share Purchase Agreement with Engro Corporation Limited. The agreement, dated August 31, 2026, involves the acquisition of 510,733,455 ordinary shares, representing approximately 56.19% of the issued and paid-up ordinary share capital of Engro Polymer & Chemicals Limited. The transaction is priced at Rs 38.60 per ordinary share.

According to information available from the Pakistan Stock Exchange (PSX), the completion of this transaction is contingent upon the fulfillment of specific terms and conditions outlined in the Share Purchase Agreement. Additionally, it requires obtaining necessary regulatory approvals and meeting customary conditions.

The disclosure, made under Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, emphasizes the significance of this acquisition. The corporate headquarters of Lotte Chemical Pakistan Limited is located in the Eastern Industrial Zone, Port Qasim, Karachi.

The designated market category for this announcement is the disclosure of price-sensitive and inside information by a listed company. The transaction's completion will mark a major consolidation move in Pakistan's chemical industry, contingent on the satisfaction of all outlined prerequisites.