Latest news with #PTAGlobalHoldingLimited
Business Recorder
11-07-2025
- Business
- Business Recorder
PTA Global Holding seeks additional 12.5% stake in Lotte Chemical via public offer
PTA Global Holding Limited, along with Liberty Daharki Power Limited and Daewoo Pakistan Express Bus Service Limited, has announced a public offer to acquire up to 189.17 million ordinary shares, representing 12.49% stake, of Lotte Chemical Pakistan Limited (LOTCHEM) at an offer price of Rs22.37 per share. LOTCHEM disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday. 'This is a public offer by PTA Global Holding Limited with Liberty Daharki Power Limited and Daewoo Pakistan Express Bus Service Limited acting in concert (PAC) to acquire up to 189,173,552 ordinary shares of Lotte Chemical Pakistan Limited comprising 12.49% of the issued ordinary share capital of target company at an offer price of Rs22.37 per ordinary share pursuant to the Securities Act, 2015 and the Listed Companies Regulations, 2017,' read the notice. PTA Global Holding replaces AsiaPak, Montage as acquirer of Lotte Chemical Pakistan The move follows the earlier acquisition of a 75.01% majority stake in the company by AsiaPak Investments Limited and Montage Oil DMCC through a share purchase agreement (SPA), subsequently assigned to PTA Global Holding Limited. Back in February, AsiaPak Investments Limited and Montage Oil DMCC, together, entered into an SPA with the sponsors of LOTTE Chemical Pakistan Limited for the purchase of 1,135,860,105 ordinary shares of LOTTE Chemical at a price of Rs16.78 per ordinary share. Following this, the Competition Commission of Pakistan (CCP) in May approved the acquisition. AsiaPak Investments Limited is a private investment company incorporated in the British Virgin Islands, with investments in infrastructure, energy, logistics, and technology. Montage Oil DMCC, based in the UAE, is engaged in the global trade of oil and petrochemicals.
Business Recorder
07-07-2025
- Business
- Business Recorder
PTA Global Holding replaces AsiaPak, Montage as acquirer of Lotte Chemical Pakistan
PTA Global Holding Limited, a UAE-based company, has replaced AsiaPak Investments Limited and Montage Oil DMCC as the new acquirer in the planned acquisition of a 75.01% stake in Lotte Chemical Pakistan Limited. Arif Habib Limited, manager to the offer, disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. AHL announced the change in acquirer, resulting from a revised capital ownership structure, through an addendum submitted to the bourse. 'We, Arif Habib Limited would like to inform, vide this addendum to the Public Announcement of Intention, that due to a change in the capital ownership structure of the acquirers, a new foreign entity i.e. PTA Global Holding Limited will replace AsiaPak Investments Limited and Montage Oil DMCC as the acquirer for the acquisition of up to 1,135,860,105 of the ordinary shares (75.01%) of Lotte Chemical Pakistan Limited with Liberty Daharki Power Limited and Daewoo Pakistan Express Bus Service Limited acting in concert,' AHL said in its notice PTA Global Holding Limited is incorporated in the UAE and is directly owned by Asiapak Investments Limited and Montage Oil DMCC with equal stake in the shareholding. 'It is intended that PTA Global Holding Limited will only hold Asiapak Investments Limited and Montage Oil DMCC's interest in LCPL,' read the notice. Earlier in February, the Board of Directors of Lotte Chemical Corporation (LCC Korea), the majority shareholder of Lotte Chemical Pakistan Limited entered into a Share Purchase Agreement to sell the entire stake in the Pakistani subsidiary to AsiaPak Investments Limited and Montage Oil DMCC. Following this, the Competition Commission of Pakistan (CCP,) in May, approved the acquisition. AsiaPak Investments Limited is a private investment company incorporated in the British Virgin Islands, with investments in infrastructure, energy, logistics, and technology. Montage Oil DMCC, based in the UAE, is engaged in the global trade of oil and petrochemicals.
