Attock Cement Pakistan Limited (ACPL), a subsidiary of Pharaon Investment Group Limited Holding S.A.L, Lebanon, has secured $5.85 million from selling an additional 4.5 million shares in its subsidiary, Saqr Al Keetan for Cement Production Company Limited (SAKCPCL). This development was announced in a notice to the Pakistan Stock Exchange (PSX) on Friday.
The notice detailed that ACPL had previously announced the sale of its entire shareholding in SAKCPCL, with $11.7 million already received from the sale of 9 million shares. The recent transaction adds to this, with the company now in the process of transferring the additional 4.5 million shares to one of the buyers under the Share Purchase Agreement, in accordance with Iraqi law.
Incorporated as a public limited company in Pakistan in 1981, ACPL has established itself as a key exporter of clinker and cement to various international markets, including the UAE, South Africa, Iraq, and Sri Lanka. The company also offers bulk cement supply and produces low-alkali cement for specific markets.
Earlier this year, ACPL expanded its production capacity by 1.28 million tons, following the completion of construction and installation work for a new production line.
