A consortium led by AsiaPak Investments has now issued formal Public Announcement of Offer to acquire up to 12.49% of the issued share capital of Lotte Chemical Pakistan Limited (LCPL), according to a disclosure submitted to the Pakistan Stock Exchange (PSX) by Arif Habib Limited, the manager to the offer.
The announcement follows an earlier expression of intent published in February 2025 and an addendum issued on July 8. The acquirer in the formal offer is PTA Global Holding Limited, acting in concert with Liberty Daharki Power Limited and Daewoo Pakistan Express Bus Service Limited. Collectively, the consortium is seeking to purchase up to 189,173,552 ordinary shares of LCPL, representing 12.49% of the company’s outstanding shares.
This development falls under the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Previously, the consortium had expressed an intention to acquire a significantly larger portion—up to 1.135 billion shares—of the petrochemical manufacturer, marking this latest step as a partial but formal move within the regulatory framework.
The relevant documentation for the Public Announcement of Offer has been submitted to the PSX, and hard copies have been sent to the exchange’s office. The announcement is scheduled to be published in Business Recorder and Nawa-i-Waqt on July 12, 2025.
The move signals continued acquisition activity in Pakistan’s industrial sector, particularly in the chemicals and energy-linked value chain, where AsiaPak has remained an active investor. The outcome of the offer could alter the ownership structure of LCPL, subject to regulatory approvals and market response.
