Karachi: Cherat Cement Company Limited (CCCL), a significant player in Pakistan's cement industry, has announced its intention to acquire at least a 30% stake in Nimir Industrial Chemicals Limited, subject to obtaining necessary regulatory approvals. This move, reported on September 10, 2026, reflects CCCL's strategic expansion into the chemicals sector while adhering to the Securities Act, 2015.
Under the proposed transaction, CCCL plans to acquire at least 33,177,164 shares of Nimir Industrial Chemicals, aligning with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The exact number of shares and the specifics of the share purchase agreement remain undetermined at this stage.
According to information available from the Pakistan Stock Exchange (PSX), CCCL's public announcement of intention is contingent on the approval from relevant regulatory authorities. If these approvals are not granted, the acquisition plan may be withdrawn.
CCCL, with its headquarters in Karachi, is known for its robust production infrastructure and an installed capacity of 4.5 million tons per annum. The company is recognized for its operational excellence and commitment to sustainability, primarily serving Pakistan's northern region and exporting to Afghanistan. The company is listed in the designated market category of the Pakistan Stock Exchange.
The acquirer's managing offer is being facilitated by KTrade Securities Limited, located in the Defence Housing Authority, Karachi. The leadership team at CCCL includes Chairman Mr. Omar Faruque, CEO Mr. Azam Faruque, and COO Mr. Yasir Masood, alongside a diverse board of directors.
Cherat Cement Company Limited does not currently hold more than 30% of voting shares in any other company, nor does it have any existing holdings in Nimir Industrial Chemicals Limited. The ultimate beneficial owner, Faruque (Pvt.) Limited, holds 21.79% of CCCL shares, making it the largest shareholder without any substantial interest by a single individual.
As the acquisition process unfolds, CCCL remains committed to enhancing its market presence and exploring new avenues for growth within the chemicals industry.