Fauji Cement and KAPCO Move to Secure Joint Control of Attock Cement

Fauji Cement Company Limited and Kot Addu Power Company Limited have announced a public offer to acquire up to 10.95 million shares, representing a 7.97 percent stake in Attock Cement Pakistan Limited.

The offer follows a previously signed agreement with Pharaon Investment Group, under which both companies will acquire 84.06 percent stake in Attock Cement at a price of Rs. 330.41 per share, according to official filings submitted to the Pakistan Stock Exchange.

Under the transaction structure, Fauji Cement and KAPCO will each acquire 42.03 percent stake, equivalent to 57.76 million shares each, through the share purchase agreement. In addition, both companies plan to acquire an extra 3.98 percent stake each through the public offer, potentially taking total ownership to nearly 92 percent if fully subscribed.

The total estimated payout for the public offer stands at approximately Rs. 3.62 billion, with the offer price determined based on regulatory pricing benchmarks, including recent market averages and negotiated transaction values.

According to details in the public announcement document, the offer will remain open from April 6 to April 12, 2026, with payments to shareholders expected within 10 days of the closing date.

The acquisition is expected to strengthen Fauji Cement’s position in the cement sector by expanding its footprint and complementing its existing operations. For KAPCO, the transaction marks entry into the cement industry, diversifying its investment portfolio beyond the power sector.