Group of Investors Launches Public Offer to Purchase 8.02% of Calcorp Limited

A group of investors comprising Asif Ali Shaikh, Muhammad Hanif Shaikh and Kashif Mumtaz has announced a public offer to acquire up to 861,970 ordinary shares of Calcorp Limited. JS Global Capital Limited is the manager to the offer. This represents 8.02 percent of the company’s total issued share capital. The offer price has been set at Rs. 32.98 per share. The public offer follows a share purchase agreement signed on October 15, 2024, and an addendum dated February 19, 2025, under which the acquirers agreed to purchase 83.96 percent of Calcorp Limited’s shares from its sponsors. Under Section 111(c) of the Securities Act, 2015, this acquisition triggers a mandatory public offer for additional shares. JS Global Capital Limited, acting as the manager to the offer, has confirmed that the required documents have been submitted to regulatory authorities, and the public announcement of the offer will be published in leading newspapers on March 5, 2025.