Maple Leaf plans to buy majority stake in Pioneer Cement

Maple Leaf Cement Factory Limited (MLCF) has moved to acquire a majority stake in Pioneer Cement Limited (PIOC), submitting an intention to purchase at least a 58.03% shareholding to the Pakistan Stock Exchange (PSX).

“Next Capital Limited, vide its letter dated November 13, 2025, which was disclosed to the PSX, has announced that on behalf of Maple Leaf Cement Factory Limited (acquirer), it has submitted the acquirer’s public announcement of intention to acquire at least 58.03% shareholding and control of Pioneer Cement Limited,” Pioneer Cement said in its notice to the bourse on Friday.

MLCF informed on Thursday that it was considering purchasing PIOC shares. However, at the time, the company did not disclose the number of shares it intends to purchase.

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.