- September 7, 2026
- Posted by: Tresmark
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Lotte Chemical Pakistan Limited has extended the timeline for making a Public Announcement of Offer (PAO) to acquire a 56.19% stake and control of Engro Polymer & Chemicals Limited (EPCL).
According to a notice submitted to the Securities and Exchange Commission of Pakistan (SECP) and Pakistan Stock Exchange (PSX), the proposed transaction involves the acquisition of 510.73 million ordinary shares, representing 56.19% of EPCL’s total issued and paid-up capital.
The Public Announcement of Intention (PAI) for the acquisition was originally published on March 12, 2026. The acquirer said it is currently completing the process of obtaining the required regulatory approvals before submitting the PAO.
The original deadline for issuing the Public Announcement of Offer was September 8, 2026. However, Lotte Chemical Pakistan has exercised its right under Regulation 7(1) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017, to extend the deadline by a further 90 days.
Following the extension, the deadline for making the PAO has been moved to December 7, 2026.
The company said it will continue efforts to expedite the regulatory approval process and complete the required actions for the proposed acquisition.
