Maple Leaf Cement eyes acquisition of shares in Pioneer Cement

Maple Leaf Cement Factory Limited (MLCF) informed on Thursday that it was considering purchasing shares of Pioneer Cement Limited (PIOC).

The company shared this in a notice to the Pakistan Stock Exchange (PSX) today.

“We would like to inform you that the Board of Directors of MLCF in their meeting held on November 13, 2025, has considered the potential acquisition of shares of Pioneer Cement Limited, subject to finalization and negotiation of commercial terms, completion of due diligence, execution of definitive agreements, undertaking a public offer and receipt of regulatory approvals,” read the notice.

However, the company did not disclose the number of shares it intends to purchase.

The cement maker shared that Next Capital Limited has been appointed as Manager to the Offer and “is authorised to fulfil all legal and procedural obligations/requirements on behalf of MLCF concerning the public announcement of intention and offer”.

Middle East Vision Holdings Ltd currently holds PIOC’s majority stake of 47%, said JS Global in a note.

“Notably, Kohinoor Maple Leaf group already owns 18.46% of the target with MLCF owning 7.6% and 10.8% being owned by Maple Leaf Capital Ltd (MLCL),” it added.

MLCF was incorporated in Pakistan as a public limited company in 1960. The company is engaged in the manufacturing and sale of cement. Besides catering to the local market, the company also exports cement to Afghanistan, the Middle East and other African countries.

Kohinoor Textile Mills Limited is the holding company of MLCF.

Meanwhile, Pioneer Cement Limited was set up as a public limited company in 1986. With its plants located in Punjab, the company has three production lines where it manufactures and sells cement. It began its production operation with a capacity of 2000 tons per day. The company also made investments in a 12MW Waste Heat Recovery Power Plant and a 24MW coal power plant.