⚡ Flash Summary

Cherat Cement Company Limited and Shirazi Investments (Private) Limited have withdrawn their public announcement of intention to acquire up to 84.06% of the issued share capital and joint control of Attock Cement Pakistan Limited. The initial announcement was made on June 4, 2025. The acquirers, Cherat Cement and Shirazi Investments, decided to withdraw the Public Announcement of Intention (PAI) because negotiations with the seller, Pharaon Investments Group Limited (Holding) S.A.L. Lebanon, did not materialize. This withdrawal is in accordance with Regulation 21(1)(b) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

📌 Key Takeaways

• ❌ Cherat Cement and Shirazi Investments withdraw acquisition intention.
• 📅 Initial announcement of intent was on June 4, 2025.
• 🤝 Target company was Attock Cement Pakistan Limited.
• 🏢 Acquirers planned to acquire up to 84.06% of issued share capital.
• 📉 115,526,349 shares were subject to the acquisition.
• 🚫 Negotiations with seller PharaonInvestments Group Limited (Holding) S.A.L. Lebanon failed.
• 📜 Withdrawal based on Regulation 21(1)(b) of takeover regulations, 2017.
• 🛑 Acquisition plans are terminated.
• 📰 Public announcement ensures transparency and regulatory compliance.
• 💼 No transfer of control or ownership will occur.

🎯 Investment Thesis

SELL. The withdrawal of the acquisition attempt indicates potential issues with Attock Cement’s valuation or operational outlook. Without a clear catalyst for future growth or value, a SELL recommendation is appropriate. Further information about Attock Cement’s financials and future plans would be needed to revise this recommendation.