Karachi: Cherat Cement Company Limited has signaled its intent to acquire a substantial 30% stake in Nimir Industrial Chemicals Limited (NICL), according to a public announcement of intention disclosed on September 10, 2026. The potential acquisition is set to be managed by KTrade Securities Limited, serving as the Manager to the Offer.

The public announcement, which is a prerequisite under Sections 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, was notified to the Board of Directors of NICL on the same day. According to information available from the Pakistan Stock Exchange (PSX), the notice is part of a regulatory procedure that ensures transparency in substantial acquisition deals.

Cherat Cement Company Limited, headquartered in Karachi at Modern Motors House, Beaumont Road, aims to acquire at least 33,177,164 shares of NICL, equating to at least 30% of its total outstanding paid-up capital. This move is subject to obtaining necessary regulatory approvals, and the public announcement could be withdrawn if approvals are not granted.

The announcement also designates Mr. Azam Faruque, Chief Executive Officer of Cherat Cement Company Limited, as the ultimate controlling shareholder, highlighting the strategic importance of this acquisition for the company. The designated market category for this acquisition falls under the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

KTrade Securities Limited has indicated that the public announcement will be published in both English and Urdu language newspapers to ensure wide dissemination of the intentions of Cherat Cement Company Limited. The potential acquisition underscores a significant move in the regional industrial chemicals sector, pending regulatory approval.