Friday, December 19 2025

Nishat Group entities eye control of Rafhan Maize with plan to acquire up to 75.69% shares
Rafhan Maize Products Company Limited (RMPCL) has received a firm intention from Nishat Group–linked entities and members of the Mansha family to acquire control and up to 75.69% of its voting shares. RPMPL, one of Pakistan’s largest agro-based companies, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday. The company said the intention was conveyed through an addendum to the Public Announcement of Intention (PAI) originally issued on May 14, 2025, and later amended via a corrigendum on July 28, 2025. The proposed acquirers include Nishat Hotels and Properties Limited, D.G. Khan Cement Company Limited, Nishat Mills Limited, Nishat Power Limited, Nishat Chunian Power Limited, Lalpir Power Limited, Pakgen Power Limited, along with Naz Mansha, Raza Mansha, Umer Mansha, and Hassan Mansha, who are acting in concert.
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