⚡ Flash Summary

Fauji Cement Company Limited (FCCL) announced that its Board of Directors has approved the company, being the cement vertical of Fauji Foundation, to jointly acquire 84.06% of the total issued and paid-up capital, and joint control of Attock Cement Pakistan Limited (“Target”). FCCL will acquire 57,763,175 ordinary shares, representing 42.03% of the target’s paid-up share capital. This acquisition will be executed jointly with Kot Addu Power Company Limited (KAPCO), who will acquire the remaining 42.03%. The acquisition is subject to regulatory approvals and execution of a share purchase agreement.

📌 Key Takeaways

• ✅ FCCL’s board approved the joint acquisition of Attock Cement Pakistan Limited (ACPL).
• 🤝 The acquisition will be done jointly with Kot Addu Power Company Limited (KAPCO).
• 🎯 The target of acquisition is 84.06% of ACPL’s total issued and paid-up capital.
• 🧱 FCCL will acquire 57,763,175 ordinary shares of ACPL.
• 📊 FCCL’s stake in ACPL will be 42.03% of the paid-up share capital.
• ⚡️ KAPCO will acquire 57,763,174 ordinary shares of ACPL.
• ⚖️ KAPCO’s stake in ACPL will be 42.03% of the paid-up share capital.
• 📜 The acquisition is subject to the execution of a share purchase agreement.
• 🚦 Regulatory approvals are required for the acquisition to proceed.
• 📅 The board meeting was held on November 3, 2025.
• 🏢 Integrated Equities Limited is the Manager to the Offer.
• ℹ️ The Public Announcement of Intention was made on June 3, 2025.
• 🏢 FCCL is described as the cement vertical of Fauji Foundation (FF).

🎯 Investment Thesis

Given the lack of financial data and the nature of the announcement regarding a future acquisition, a HOLD recommendation is appropriate. Further information about the deal terms, financing, and expected synergies is required before making a definitive BUY or SELL recommendation. Target price and time horizon are not applicable.