Kot Addu Power Company Limited (KAPCO) has informed the Pakistan Stock Exchange (PSX) that it, together with Fauji Cement Company Limited (FCCL), has requested an extension of 90 days to issue the Public Announcement of Offer (PAO) for acquiring shares and joint control of Attock Cement Pakistan Limited.
The company disclosed the development through a notice submitted under Sections 96 and 131 of the Securities Act 2015. It stated that Integrated Equities Limited, acting as Manager to the Offer, has notified regulators that the deadline for issuing the PAO is being moved to March 01, 2026.
According to the notice, “Integrated Equities Limited, being the Manager to Offer, has submitted intimation for extension in timeline by ninety days up to 01 March 2026, for Public Announcement of Offer to acquire shares and joint control of Attock Cement Pakistan Limited.”
The extension request follows the earlier Public Announcement of Intention (PAI) published on June 04, 2025, which signalled the acquirers’ plan to purchase majority shares from Pharaon Investment Group Limited Holding S.A.L. The role of joint acquirer previously held by Fauji Foundation has since been replaced by Fauji Cement through an addendum issued on November 06, 2025.
A separate letter submitted to the Securities and Exchange Commission of Pakistan and PSX said the acquirers are still negotiating with the seller on final terms. The notice stated, “The Acquirers are in the process of discussions and negotiations with the Seller for entering into definitive agreements.”
It added that since these talks are still ongoing, the PAO cannot be issued within the 180-day window prescribed under takeover regulations. “Considering that it may take time for the discussions to conclude, the Public Announcement of the Offer would not be possible to make within 180 days of the PAI,” the letter said.
KAPCO has requested the exchange to inform TRE certificate holders of the revised schedule.
