LAHORE: D.G Khan Cement on Thursday rebutted a notification circulating which claimed a Chinese cement company expressed interest in acquiring 40 percent stake in the company, a bourse notification read.
Terming the document as entirely fake/fabricated,”The Company has neither issued any such letter nor has received any such interest from any of the Chinese or other investor”, the notification read.
D.G Khan added “We request Pakistan Stock Exchange and Securities and Exchange Commission of Pakistan to carry out necessary investigation of this Fake/Fabricated Letter which is a cyber crime.”
The company said it reserved the right of pursuing legal action against the culprits for damaging its reputation.
The fake notification alleged China’s largest cement manufacturer Anhui Conch Cement Company Limited was interested in acquiring 40 percent stake in D.G Khan Cement.
In May, Profit reported regarding China-Pakistan Economic Corridor having contributed to a major resurgence and boom for the Pakistani cement industry. And it is expected that Pakistan’s cement production capacity will rise from 56 million tons to 70 million tons within a span of five years.
Bloomberg in May said Pakistan ranks among the top twelve growing construction markets globally and would grow at a annual rate of 12 percent over the next five years.
D.G. Khan Cement Company Limited produces and sells clinker, ordinary Portland, and sulphate resistant cement, having a production capacity of 14,000 tons per day. The company also exports its products to Afghanistan, India, South Africa, Sri Lanka, and other African countries. It is owned by Nishat Group and is headquartered in Lahore, Punjab.
