Nimir Industrial Chemicals Limited (NICL) has disclosed that its majority shareholders have entered into a Share Purchase Agreement (SPA) with Cherat Cement Company Limited for the sale of a controlling stake in the company.
According to a material information disclosure submitted to the Pakistan Stock Exchange (PSX) on November 2, 2026, the agreement was signed on October 30, 2026.
Under the proposed transaction, the majority shareholders of Nimir Industrial Chemicals will sell 56,401,178 shares, representing 51% of the company’s issued and paid-up share capital, to Cherat Cement Company Limited.
The agreed transaction price is Rs.340 per share, valuing the 51% stake at approximately Rs.19.18 billion.
Transaction Subject to Regulatory Approvals
The company clarified that the transaction has not yet been completed. Its final completion remains subject to the fulfillment of conditions specified in the Share Purchase Agreement and obtaining all necessary regulatory approvals.
Nimir Industrial Chemicals made the disclosure in accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Pakistan Stock Exchange Rule Book.
Potential Change in Ownership
The proposed sale represents a significant ownership development for Nimir Industrial Chemicals, as Cherat Cement is set to acquire a controlling 51% stake if the transaction is successfully completed.
The development is likely to attract attention from investors and market participants, particularly regarding the company’s future ownership structure and strategic direction.
However, the company has not disclosed further details regarding possible management changes, future business plans or the operational strategy following the proposed transaction.
What Investors Should Know
Investors should note that the announcement concerns a signed share purchase agreement rather than a completed acquisition. The transaction’s final outcome will depend on the fulfillment of contractual conditions and regulatory clearances.
Further announcements from the company and relevant regulatory authorities will provide clarity on the completion and any subsequent changes in ownership.
The disclosure was signed by Muhammad Inam ur Rahim, Company Secretary of Nimir Industrial Chemicals Limited, in Lahore on November 2, 2026.
