Cherat Cement Company Limited (PSX: CHCC) plans to acquire at least a 30 percent stake in Nimir Industrial Chemicals Limited (PSX: NICL), according to a filing with the Pakistan Stock Exchange.
Nimir Industrial Chemicals said on Thursday that it received a Public Announcement of Intention from Cherat Cement, submitted through KTrade Securities Limited, for the proposed acquisition.
The deal covers at least 33.177 million ordinary shares of Nimir under a share purchase agreement. Any mandatory public offer, where applicable, will be carried out under Pakistan’s takeover rules.
The proposed transaction is not yet final and remains subject to regulatory clearances, due diligence, agreement on commercial terms and completion of the required legal documentation.
Cherat Cement said its CEO, Azam Faruque, is the ultimate controlling shareholder. The company currently does not own any shares in Nimir and said no shares are held by persons acting in concert with it.
Nimir has 110.59 million issued ordinary shares. Its largest shareholders include Zafar Mahmood with a 19.72 percent stake, Muhammad Yahya Khan with 11.89 percent and Khalid Mumtaz Qazi with 11.53 percent.
Nimir Financials
Nimir Industrial Chemicals posted net sales of Rs. 48.291 billion and profit after tax of Rs. 2.393 billion in fiscal year 2026.
| Metric | FY2026 |
|---|---|
| Net Sales | Rs. 48.291 billion |
| Profit After Tax | Rs. 2.393 billion |
| Total Assets | Rs. 35.996 billion |
| Equity | Rs. 11.534 billion |
The company manufactures a range of chemical products, including soap noodles, stearic acid, glycerin, caustic soda and hydrochloric acid, along with other oleochemical and chlor-alkali products.
Nimir was incorporated in 1994 as Ravi Alkalis Limited and was listed on the Pakistan Stock Exchange in 1996. It adopted the Nimir Industrial Chemicals name in 1998.
Cherat Cement is part of the Ghulam Faruque Group and produces Ordinary Portland and composite cement under the Cherat and Cherat Khyber brands.
Its manufacturing facility in Nowshera has an annual installed capacity of 4.5 million tons, with the company supplying the domestic market and exporting to Afghanistan.
The proposed acquisition can be withdrawn if the necessary regulatory approvals are not obtained. Final transaction terms and any public offer will be determined after the required approvals and corporate processes are completed.
