Karachi: Dandot Cement Company Limited has received approval from the Securities & Exchange Commission of Pakistan (SECP) to issue over 70 million ordinary shares to settle an outstanding loan with Calicom Industries (Private) Limited. This approval follows a special resolution passed by the company’s shareholders in a meeting held on June 24, 2026.

According to the company’s report dated September 1, 2026, Dandot Cement Company Limited will issue 70,735,574 ordinary shares at a price of Rs. 21.62 per share. This issuance, amounting to Rs. 1.53 billion, will be conducted under Section 83(1)(b) of the Companies Act, 2017 and Regulation 5 of the Companies (Further Issue of Shares) Regulations, 2020. The shares are to be allocated in book entry form within 60 days from the approval date.

The approval from the SECP is contingent upon several conditions. The company must notify both the Commission and the securities exchange about the share issuance within seven days of the issuance. Furthermore, Calicom Industries must retain the acquired shares for a period specified in the regulations.

According to information available from the Pakistan Stock Exchange (PSX), Dandot Cement Company Limited’s move to issue shares other than through a rights offering represents a strategic approach to managing its financial obligations by converting debt into equity.

Additionally, the SECP approval stipulates that should this issuance trigger any provisions under the Securities Act, 2015, or the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, Dandot Cement and Calicom Industries must ensure compliance with all relevant regulatory requirements.