Rafhan Maize Products Company Limited revealed on Friday that Ingredient Incorporated has received several non-binding offers concerning the potential sale of part of its equity stake in the company.Â
According to a notification sent to the Pakistan Stock Exchange (PSX), Ingredient is currently evaluating these offers, with any decision on the sale being subject to regulatory approvals and the execution of definitive agreements.
Ingredion Incorporated Chicago. U.S.A., holds majority shares of Rafhan Maize Products Company.
The notice emphasizes that any potential sale transaction will be contingent on compliance with all relevant laws, as well as the necessary internal and regulatory approvals.
Rafhan Maize Products, known for its significant position in the food production industry, did not disclose specific details about the nature or volume of the offers received but confirmed that they are in the process of evaluation.
Rafhan Maize Products Company Limited uses maize as the basic raw material to manufacture and sell a number of industrial products, principal ones being industrial starches, liquid glucose, dextrose, dextrin and gluten meals.
