Karachi: In a significant move within the chemical industry, AsiaPak Investments Limited and Montage Oil DMCC have formally announced their intention to acquire a substantial 75.01% of the ordinary shares of Lotte Chemical Pakistan Limited. This announcement was initially made public on February 13, 2025, and has been subsequently published in today’s editions of Business Recorder and Nawa-i-Waqt, dated February 17, 2025. The publication was carried out in compliance with Regulation 6(5) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulation, 2017.

The acquisition, if successful, will see AsiaPak Investments Limited and Montage Oil DMCC, referred to as the “Acquirers,” gain a controlling interest in Lotte Chemical Pakistan, marking a pivotal development in the Pakistani chemical sector. The move is anticipated to bring about significant shifts in the market dynamics, given Lotte Chemical”s prominent position in the industry.

The public announcement highlights the strategic interest of AsiaPak and Montage Oil in expanding their footprint in the region”s chemical market. Lotte Chemical Pakistan, a leading player in the sector, is likely to benefit from the expertise and investment that the Acquirers are expected to bring.

According to information available from the Pakistan Stock Exchange (PSX), the intent to acquire such a substantial portion of Lotte Chemical’s shares underscores the confidence of the Acquirers in the growth potential and future prospects of the Pakistani chemical industry.

This acquisition announcement has been closely watched by industry analysts and investors, who are eager to see how the potential change in ownership might influence Lotte Chemical’s operations and market strategy. The market is now keenly awaiting further developments and any subsequent moves by other stakeholders in response to this significant acquisition intent.

For further information or clarification, interested parties are encouraged to reach out to the undersigned contact as detailed in the public announcement.