Rafhan Maize Products Co. Ltd. announced on Friday that its majority shareholder, Ingredion Incorporated, has entered into a conditional Share Purchase Agreement with Nishat Hotels and Properties Limited to sell its 51.04% shareholding in the company.
The company disclosed this information in a disclosure sent to the Pakistan Stock Exchange (PSX) in accordance with Section 96 and Section 131 of the Securities Act, 2015 and clause 5.6.1(a) of PSX Regulations.
“We have been informed by our majority shareholder Ingredion Incorporated (“Ingredion”) that they have entered into a conditional Share Purchase Agreement with Nishat Hotels and Properties Limited for sale of their 51.04% shareholding in the Company,” read the notice.
Through this transaction Ingredion will reduce its equity in the company.
The company said that completion of the transaction remains subject to the satisfaction of various conditions agreed in the agreement, and relevant regulatory approvals.
Rafhan Maize also assured the market that it would keep stakeholders informed of any further developments regarding the sale.
Ingredion Incorporated Chicago. U.S.A., holds majority shares of the Rafhan Maize Products Company Limited. The company 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.
well done best deal of 2025 by nishat group
best deal of 2025 on psx by nishat group