Nishat Hotels and Properties Wants to Acquire 75% Stake in Rafhan Maize

Rafhan Maize Products Company Limited (PSX: RMPL) has officially disclosed that it has received a firm offer from Nishat Hotels and Properties Limited to acquire a majority stake in the company. According to the stock filing at the Pakistan Stock Exchange on Tuesday, Nishat Hotels and Properties aims to acquire up to 6,991,052 voting shares of Rafhan Maize, which amounts to 75.69 percent of its paid-up capital. This proposed acquisition surpasses the thresholds set under Section 111 of the Securities Act, 2015. The intention was formally communicated to the board of directors of Rafhan Maize on May 14, 2025. The company has requested the securities exchange to immediately disseminate the information to its shareholders through its notice board, automated information system, and an official announcement on the trading floor.