Cherat Cement Company Limited has announced a major strategic investment through agreements to acquire a controlling stake in Nimir Industrial Chemicals Limited (NICL), marking a significant development in Pakistan’s industrial and corporate sector.
According to a disclosure submitted to the Pakistan Stock Exchange (PSX) on November 2, 2026, Cherat Cement has entered into agreements with the majority and certain non-controlling shareholders of Nimir Industrial Chemicals for the acquisition of a combined 64.07% stake in the company.
Acquisition Covers 64.07% of Nimir Industrial Chemicals
Under the first agreement, Cherat Cement will acquire 56,401,178 ordinary shares from the majority (controlling) shareholders of Nimir Industrial Chemicals. These shares represent 51% of the company’s issued share capital.
Additionally, the company has signed another Share Purchase Agreement with certain non-controlling shareholders for the acquisition of 14,457,000 ordinary shares, equivalent to 13.07% of NICL’s issued share capital.
Together, the two transactions cover approximately 70.86 million ordinary shares, representing 64.07% of Nimir Industrial Chemicals’ issued share capital.
Transaction Valued at Rs340 Per Share
The agreed acquisition price for the shares is Rs340 per share. Based on the disclosed shareholding percentage and agreed price, the transaction represents a substantial investment by Cherat Cement as it moves to secure a controlling position in Nimir Industrial Chemicals.
The acquisition could mark an important step in the company’s corporate growth and investment strategy, although the announcement does not disclose further details about the expected financial or operational benefits.
Regulatory Approvals Still Required
Cherat Cement clarified that completion of the transaction remains subject to the necessary regulatory and other approvals, as well as the fulfilment of conditions precedent outlined in the respective Share Purchase Agreements.
In accordance with applicable laws and regulations, a Public Announcement of Offer will also be made through the Manager to the Offer, KTrade Securities Limited, under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Important Development for Pakistan’s Corporate Sector
The proposed acquisition represents a notable corporate development, with Cherat Cement seeking to obtain a majority stake in Nimir Industrial Chemicals.
The transaction will be closely followed by investors as the acquisition progresses through the required regulatory process. Its eventual completion could reshape the ownership structure of Nimir Industrial Chemicals and mark a new chapter in the company’s corporate direction.
Cherat Cement has stated that it will continue to keep the Pakistan Stock Exchange informed about further developments.
