Karachi: IGI Holdings Limited disclosed plans to potentially acquire up to 100% shares of Matco Corn Products (Private) Limited, according to a report filed on October 15, 2026. This strategic move, aimed at expanding IGI's footprint in the corn starch industry, was revealed in compliance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book issued by the Pakistan Stock Exchange Limited (PSX).

IGI Investments (Private) Limited, a wholly-owned subsidiary of IGI Holdings, received in-principle approval from its Board of Directors to conduct due diligence for the acquisition. The board meeting, held on the same day as the report's release, emphasized the need for thorough evaluation before finalizing the transaction. According to information available from the Pakistan Stock Exchange (PSX), the completion of the proposed deal hinges on several critical factors, including due diligence outcomes, transaction structure finalization, and purchase price negotiations with Matco Food Limited, the substantial shareholder of Matco Corn Products.

The proposed transaction is subject to the successful negotiation and execution of definitive agreements and adherence to all relevant corporate and regulatory requirements. Board authorization has empowered IGI Investments' Chief Executive Officer, along with authorized directors, to navigate these complexities, including the appointment of legal and financial advisors to aid in the due diligence process.

Matco Corn Products, a private entity specializing in the manufacture and sale of corn starch products, stands as the target of this potential acquisition. The disclosure, in line with regulatory mandates, reflects IGI Holdings' strategic interest in expanding its operational domain through meticulous acquisition strategy and market evaluation.