Karachi January 9 2023: Novatex Limited withdraw its intention to acquire majority stake in Lotte Chemical Pakistan Limited, according to company filing to the exchange.
Share price of Lotte Chemical Pakistan Limited drop PKR 1.36 or 5.22 percent in today trading at Pakistan Stock Exchange.
Lotchem informed with reference to Notice of Public Announcement of Intention ("PAl") issued by M/s. Novatex Limited through its Manager to the Offer, i.e. Mis. Arif Habib Limited, to acquire control of 75.01 % shares of Mis Lotte Chemical Pakistan Ltd ("the Company") which was published in newspapers on 13 July 2022.
In this regard, the Company on January 6, 2023 has received a Notice of Withdrawal of PAl from the Manager to the Offer - Mis. Arif Habib Limited.
Lotte Chemical Pakistan Limited was incorporated in Pakistan on 30 May 1998 under the Companies Ordinance, 1984 ( repealed with enactment of the Companies Act, 2017). The principal activity of the Company is to manufacture and sale of Pure Terephthalic Acid (PTA).
Related Posts
