Maple Leaf Cement Factory Limited (PSX: MLCF) has made a formal public announcement of its intention to acquire a 37.86% stake in Agritech Limited (PSX: AGL), equating to approximately 160.76 million shares. This acquisition plan, disclosed in a notice to the Pakistan Stock Exchange (PSX) on Wednesday, marks a significant move by MLCF into the agricultural and fertilizer sector, expanding its portfolio beyond its cement operations.
The acquisition process is being managed by Next Capital Limited, which has submitted the public offer on behalf of MLCF. This acquisition will allow Maple Leaf Cement to diversify its investments and explore synergies with Agritech Limited’s fertilizer production operations, potentially enabling cross-sector opportunities in the future.
This proposed acquisition is subject to regulatory approval and may involve additional steps to finalize the terms. The development aligns with MLCF’s strategy to broaden its investment scope, potentially influencing both companies’ stock performance on the PSX as the market responds to this strategic move.
