Attock Cement Pakistan Ltd completes share sales in Iraqi subsidiary

The Company Secretary at Attock Cement Pakistan Ltd, Irfan Amanullah, has informed the Pakistan Stock Exchange (PSX) that further to the company’s intimation dated 21 June 2023, regarding the sale of the entire shareholding of the company in its subsidiary Saqr Al-Keetan for Cement Production Co Ltd (SAKCPCL), it announces that the process of transfer of 9m shares to the buyers is duly completed on 26 July 2023 and the shares have been registered in the name of buyers under the Iraqi Laws by the Ministry of Commerce, Iraq.

Hence, the holding of the company in Saqr Al-Keetan for Cement Production Co Ltd is now reduced from 60 to 30 per cent. Set up in 2019, the Basra grinding plant has a cement capacity of 540,000tpa.

Recall, the company were in talks to sell it shares to two buyers ie, Abdul Lateef Mohsin Al Geetan, an Iraqi national, and Lamassu Babylon General Trading Co, a company incorporated under the laws of Dubai, UAE.