Clover Pakistan Limited has announced plans to explore the feasibility of investing in or acquiring an Oil Marketing Company, according to a filing at the Pakistan Stock Exchange (PSX) on Monday.
The decision, made during a meeting of the company’s Board of Directors on April 21, 2025, marks a significant step in expanding the company’s portfolio.
“At a meeting of the Board of Directors of Clover Pakistan Limited (the “Company”) held at 12:00 P.M on 21 April, 2025 at the registered office of the Company, the management had brought to the attention of the Board a potential opportunity to invest in/acquire an Oil Marketing Company,” Clover Pakistan said in its notice to the PSX.
The Board of Directors authorised the company administration to explore the feasibility of potentially investing in or acquiring a company involved primarily in the business of oil marketing.
Furthermore, the company has also been authorised to evaluate the source of funding for the same as well as appoint advisors, valuators and consultants for evaluating the feasibility of the investment or acquisition.
The company has also been authorised to carry out due diligence and valuation, finalise the structure along with preparing necessary documents for consideration of the Board.
Following the announcement, Clover’s stock price increased by 2.31%, with a gain of Rs. 1.01, reaching at Rs. 44.80 as of 1:49 PM on April 21, 2025. This uptick suggests a favorable market reception to the company’s expansion plans, signaling investor optimism about the potential impact on Clover’s future growth.
According to the PSX website, Clover Pakistan has a market capitalization of approximately Rs. 1.74 billion, with over 38.92 million shares in circulation and a 55% free float, indicating that a significant portion of the company’s shares are accessible to public trading.
Clover Pakistan’s principal business includes the sale of food products, consumer durables, chemicals, and lubricants, and also imports and trades of gantry equipment’s air/oil filter and other car care products.
The company is also involved in marketing, distribution and after-sales support of office automation products, fuel dispensers, vending machines and digital screens.
