Alpha Cement Company Limited (ACCL) has officially announced its plan to acquire an 84.06% controlling stake (115.5 million shares) in Attock Cement Pakistan Limited, as disclosed today by Arif Habib Limited under the Securities Act, 2015 at the Pakistan Stock Exchange (PSX).
The acquisition is pending regulatory approval and, if approved, will require ACCL to make a mandatory public offer for an additional 7.97% shares (approximately 10.95 million shares) in line with the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
Tanweer Ahmed Khan, the CEO of ACCL, is the ultimate controlling shareholder. Arif Habib Limited is managing the offer process.
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Founded in November 2024, Alpha Cement is based in Sindh and specializes in cement production and processing. The company currently holds no shares, convertible securities, or options related to Attock Cement.
Attock Cement, listed since June 28, 2002, is currently majority-owned by Lebanon’s Pharaon Investment Group Holding SAL, which holds the same 84.06% stake that ACCL aims to acquire.
As of June 2, 2025, Attock Cement’s share price closed at Rs. 310.54, with a 28-day weighted average price of Rs. 303.77 per share. The company’s financial performance shows strong growth, with after-tax profits rising from Rs. 1.1 billion in FY20 to Rs. 3.6 billion in FY24. For the nine months ending March 31, 2025, Attock Cement reported a profit of Rs. 1.31 billion, with earnings per share of Rs. 9.53. Its total assets stood at Rs. 47.7 billion, with equity valued at Rs. 22.3 billion as of March 2025.
