Nishat Hotels issues corrigendum on Rafhan Maize acquisition plans

Nishat Hotels and Properties Limited has issued a corrigendum to its previous Public Announcement of Intention (PAI) regarding its plan to acquire up to 6.9 million shares, representing 75.69% of the paid-up capital, of Rafhan Maize Products Company Limited (PSX: RMPL).

The original PAI was disclosed on May 14, 2025, and was published in Business Recorder and Nawa-e-Waqt on May 16, 2025.

Rafhan Maize Products Company Limited, incorporated in Pakistan, is majority-owned by Ingredion Incorporated, a U.S.-based company. RMPL primarily manufactures and sells industrial products derived from maize, including industrial starches, liquid glucose, dextrose, dextrin, and gluten meals.