⚡ Flash Summary
Arif Habib Limited announced the withdrawal of the Public Announcement of Intention (PAI) by Alpha Cement Company Limited to acquire 84.06% of the ordinary shares of Attock Cement Pakistan Limited. The initial PAI was made on June 3rd, 2025, and published in Business Recorder and Nawa-i-Waqt on June 5th, 2025. The acquirer decided not to pursue the proposed acquisition as required under Regulation 21(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The withdrawal announcement will be published in Business Recorder and Nawa-i-Waqt on October 10, 2025.
📌 Key Takeaways
- ❌ Alpha Cement Company withdraws intention to acquire 84.06% of Attock Cement.
- 📅 Initial Public Announcement of Intention (PAI) was made on June 3rd, 2025.
- 📰 PAI was published in Business Recorder and Nawa-i-Waqt on June 5th, 2025.
- 🚫 Acquirer decided not to proceed with the proposed acquisition.
- 📜 Withdrawal is under Regulation 21(1) of takeover regulations, 2017.
- 💼 Arif Habib Limited is the manager to the offer on behalf of the acquirers.
- 📢 Withdrawal announcement will be published on October 10, 2025.
- 📄 Compliance with the law is the reason for the withdrawal process.
- ❓ Contact Arif Habib Limited for additional information or clarification.
- 📉 Uncertainty regarding Attock Cement’s future ownership.
- 🏢 Target Company: Attock Cement Pakistan Limited.
- cement Sector growth will be affected negatively.
🎯 Investment Thesis
Given the withdrawal of the acquisition offer and the resulting uncertainty, a SELL recommendation is appropriate. The stock price is likely to correct downwards as the acquisition premium disappears. We expect a price target reflecting the standalone valuation of Attock Cement, with a short-term horizon to account for immediate market reaction.
Disclaimer: AI-generated analysis. Not financial advice.