Next Capital Limited (PSX: NEXT) on behalf of a consortium of Nishat Group entities and other PSX firms today announced their intention to acquire up to 75.10 percent shares and control of Rafhan Maize Products Company Limited.
The acquirers include Nishat Hotels and Properties, D.G. Khan Cement, Nishat Mills, Nishat Power, Nishat Chunian Power, Lalpir Power, Pakgen Power, along with Naz Mansha, Raza Mansha, Umer Mansha, and Hassan Mansha.
Next Capital Limited has been appointed as the Manager to the Offer, in accordance with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
The public announcement of the acquisition intention is scheduled for publication in one English and one Urdu newspaper on February 13, 2026, with a copy to be submitted to the Pakistan Stock Exchange accordingly.
This move signals a potential major consolidation in Pakistan’s food and agribusiness sector, with the Nishat Group poised to take significant control of one of the country’s leading maize products companies.
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