Cherat Cement signs agreements to acquire 64.07% of Nimir at Rs340 per share

Cherat Cement Company Limited CHCC entered into agreements on October 30, 2026, to acquire 70,858,178 ordinary shares in Nimir Industrial Chemicals Limited, representing 64.07% of its issued share capital, at Rs340 per share, according to a filing with the Pakistan Stock Exchange.

The filing, dated November 2, follows Cherat Cement’s Public Announcement of Intention dated September 10, 2026. One share purchase agreement covers 56,401,178 shares, or 51.00%, from Nimir Industrial Chemicals’ majority controlling shareholders. A second agreement covers 14,457,000 shares, or 13.07%, from certain non-controlling shareholders.

Completion remains subject to necessary regulatory and other approvals and satisfaction of conditions precedent set out in the agreements. Cherat Cement closed at Rs267.53 on Friday, October 30.