Karachi: Nishat Hotels and Properties Limited has announced its intention to acquire shares and assume control of Rafhan Maize Products Company Limited, according to a public announcement published in leading newspapers. As per the details, the announcement was made in the 'Business Recorder' and 'Nawa-e-Waqt' on May 16, 2025, aligning with Regulation 6(5) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The announcement follows a letter dated May 14, 2025, from Next Capital Limited, which is facilitating the transaction. This strategic move by Nishat Hotels and Properties Limited marks a significant development in the market, reflecting a targeted approach in expanding its investment portfolio.

According to information available from the Pakistan Stock Exchange (PSX), this acquisition process is closely watched by market analysts, given the standing of Rafhan Maize Products Company Limited in its sector. The acquisition is expected to have notable implications for stakeholders and investors within the designated market category.

This acquisition aligns with the broader trends of consolidation within the industry, as companies seek to strengthen their market positions through strategic acquisitions and mergers. The financial specifics of the acquisition have not been disclosed at this stage.