Cherat Cement Company Limited has signed agreements to acquire a 64.07% majority stake in Nimir Industrial Chemicals Limited for more than Rs24 billion, in a deal disclosed to the Pakistan Stock Exchange on Monday, November 2, 2026.
What happened?
Cherat Cement signed two share purchase agreements with Nimir shareholders on October 30, 2026. Under the first agreement, it will buy 56.40 million shares, or 51%, from Nimir’s majority shareholders. Under the second, it will buy 14.46 million shares, or 13.07%, from certain non-controlling shareholders. Together, the agreements cover 70.86 million shares at an agreed price of Rs340 per share, valuing the deal at about Rs24.09 billion.
Key details
- The two agreements together cover 64.07% of Nimir Industrial Chemicals’ issued share capital.
- The purchase price is Rs340 per share under both agreements.
- At that price, all 110.59 million Nimir shares are valued at roughly Rs37.6 billion.
- The transaction still needs regulatory approvals and must meet the conditions in both agreements.
- Cherat will make a public announcement of offer for the remaining 35.93% of shares under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, with KTrade Securities Limited as manager to the offer.
- Cherat Cement is a northern Pakistan cement maker with installed production capacity of around 4.5 million tons per year, and it also exports cement to Afghanistan.
- Nimir Industrial Chemicals is a listed chemicals manufacturer traded on the Pakistan Stock Exchange.
What it means for people in Pakistan
The deal would put a cement maker in charge of one of the country’s leading chemicals producers, linking two major industrial sectors. For investors, the public offer for the remaining shares gives minority shareholders their own say on the takeover, while the outcome will be watched for what it signals about consolidation among listed Pakistani companies.
Source: https://bloompakistan.com/cherat-cement-signs-deal-to-buy-70-86-million-nimir-chemicals-shares/
