Islamabad, 4 June 2025: Cherat Cement, in collaboration with Shirazi Investments (Private) Limited, has unveiled a significant plan to acquire a controlling interest in Attock Cement Pakistan Limited. The announcement marks one of the most notable moves in Pakistan’s cement industry this year.
The two entities have jointly submitted an intention to purchase at least 84.06% of Attock Cement’s total outstanding shares, a transaction that would transfer ownership of over 115.5 million shares currently held by Pharaon Investment Group Limited Holding S.A.L., a Lebanon-based majority stakeholder.
In a disclosure submitted to the Pakistan Stock Exchange on Tuesday, it was detailed that Cherat Cement and Shirazi Investments would each acquire 42.03% of Attock Cement’s shareholding, enabling shared control of the company.
READ MORE: Cement Prices in Pakistan Surge Sharply
Topline Securities Limited has been appointed to manage the offer, with regulatory procedures and final agreements pending to formalize the acquisition.
Cherat Cement, recognized for its robust presence in northern Pakistan and active exports to Afghanistan, currently operates a manufacturing facility with an annual capacity of 4.5 million tons.
Shirazi Investments, a major financial arm of the Atlas Group, maintains substantial equity in prominent firms such as Atlas Honda, Atlas Insurance, and Atlas Battery.
Attock Cement has issued 137.4 million shares and has consistently posted healthy financials. For the fiscal year ending June 30, 2024, the company recorded a net profit of Rs. 3.57 billion, translating to earnings per share (EPS) of Rs. 25.95, alongside a dividend payout of Rs. 6.50 per share.
READ MORE: Cement Sector Shake-Up: KAPCO, Fauji Foundation Set to Take Control of Attock Cement
Market figures show the company’s weighted average share price over the last 28 trading sessions stood at Rs. 303.56, with its last closing price reported at Rs. 300.13.
At present, neither Cherat Cement nor Shirazi Investments holds any equity or management stake in Attock Cement.
The deal, subject to regulatory clearance and the signing of binding agreements, signals a strategic expansion for both firms aiming to consolidate influence in the growing cement market.
