Islamabad, Dec 24: Thatta Cement Company Limited (PSX: THCCL) has announced the acquisition of an additional 26.09% stake in its subsidiary, Thatta Power (Private) Limited, bringing its total ownership in the company to 88.52%.
According to a filing with the Pakistan Stock Exchange (PSX), THCCL has successfully acquired 12.5 million shares of Thatta Power, reinforcing its control over the private limited entity. Thatta Power, a subsidiary of the public-listed Thatta Cement Company, operates in the energy sector, complementing the cement manufacturer’s operations.
THCCL primarily focuses on the production and marketing of cement, and the increased stake in Thatta Power is expected to further align the operational synergies between the two companies. This strategic move enhances THCCL’s asset portfolio and positions the company to capitalize on integrated business opportunities.
