Karachi: PTA Global Holding Limited is poised to acquire a 75.01% stake in Lotte Chemical Pakistan Limited, marking a significant development in the corporate landscape. The announcement, which aligns with the intentions expressed in February 2025 by AsiaPak Investments Limited and Montage Oil DMCC, signifies a shift in the ownership structure of the acquiring entities.

The Public Announcement of Intention was initially disseminated through Business Recorder and Nawa-i-Waqt newspapers on February 17, 2025. However, recent changes have led to the emergence of a new foreign entity, PTA Global Holding Limited, which will replace the previous acquirers. This strategic move involves the acquisition of 1,135,860,105 ordinary shares of Lotte Chemical Pakistan Limited, a transaction facilitated by Liberty Daharki Power Limited and Daewoo Pakistan Express Bus Service Limited acting in concert.

Arif Habib Limited, serving as the Manager to the Offer, communicated an Addendum to the original announcement, highlighting the transition to the new acquirer. This Addendum, conforming to the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, underscores the procedural adherence and regulatory compliance of the acquisition process.

According to information available from the Pakistan Stock Exchange (PSX), the transaction represents a significant move within the designated market category. The forthcoming publication of the Addendum in Business Recorder and Nawa-i-Waqt newspapers on July 08, 2025, is anticipated to provide further clarity and assurance to stakeholders involved in this substantial acquisition.