Bestway Cement shareholders reject BAL's right shares offer

Bestway Cement Limited (PSX:BWCL) shareholders voted against a rights share offer from BAL, its subsidiary Bestway Automotive (Private) Limited. The meeting took place on August 31, 2026, and Mettis Global reported the outcome on September 1 based on a notification the company filed with the exchange. The result means the next decision on the shares now rests with BAL.

Under the law, BAL can now allot the shares to another party, including any company in the Bestway Group. According to the notice, the vote is what opened this option for BAL. Bestway Cement stated that allotting the shares to another party would end its status as a Bestway Cement subsidiary. The filing therefore ties the subsidiary's status directly to who ends up holding the shares.