Karachi: Cherat Cement Company Limited has announced its intention to acquire up to 75.69% shares and joint control of Rafhan Maize Products Company Limited. This announcement follows a letter dated May 8, 2025, and will be published in the daily Business Recorder and Nawa-e-Waqt newspapers.

The move is set to have significant implications within the designated market category, as Cherat Cement seeks to expand its portfolio through this acquisition. The public announcement aims to inform the Certificate Holders of the Exchange about the company's strategic intentions.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition represents a notable shift in the business landscape, as Cherat Cement positions itself to gain substantial control over Rafhan Maize Products. The acquisition, once finalized, will allow Cherat Cement to enhance its market presence and diversify its business operations.

The announcement underscores a strategic effort by Cherat Cement to leverage new opportunities and drive growth through acquiring a significant stake in Rafhan Maize Products. This initiative is part of a broader strategy to strengthen its market position and expand its operational capabilities.