Next Capital Limited on behalf of the Nishat Group has submitted a public announcement of intention (PAI) to acquire 298,759 ordinary shares of Rafhan Maize Products Company Limited, representing 3.23 percent of the company’s issued and paid-up share capital.
According to the PAI at the main bourse, the offer is set at Rs. 9,800 per share and is made under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
The Nishat Group comprises Nishat Hotels and Properties Limited, D.G. Khan Cement Co. Limited, Nishat Mills Limited, Nishat Power Limited, Nishat Chunian Power Limited, Lalpir Power Limited, Pakgen Power Limited, and members of the Mansha family (Naz Mansha, Raza Mansha, Umer Mansha, and Hassan Mansha).
The Acquirers had previously made a public announcement of their intention on February 13, 2026.
This acquisition is aimed at consolidating the Nishat Group’s stake and influence in Rafhan Maize, which is a leading player in Pakistan’s food and consumer goods sector.
