VHMEL to acquire 25.93 % more shares of Pioneer Cement

VHMEL to acquire 25.93 % more shares of Pioneer Cement
Published: 15 December 2010

Vision Holding Middle East Ltd (VHMEL), a company incorporated in British Virgin Islands has announced to acquire 57.773 million shares or 25.93 per cent shares of Pioneer Cement Ltd.

According to an intimation to KSE on Tuesday, the Pioneer Cement that the Foundation Securities, local agent of VHMEL has sent an offer letter to the company on December 13, 2010.

It may be noted that VHMEL had already purchased 49.084 million shares of PKR10 each or 22.03 per cent shares of the issued capital of Pioneer Cement at PKR22 per share on June 18, 2009.。