Maple Leaf Cement makes aggressive bid for Agritech

Maple Leaf Cement Factory Ltd (MLCF) announced a significant move into Pakistan’s fertilizer industry by submitting a bid to acquire 160.76 million shares in Agritech Limited (AGL) at PKR 39.00 (USD 0.14) per share. The acquisition would give MLCF a 37.86% stake in AGL, countering Fauji Fertilizer Company Ltd’s (FFC) recent offer of PKR 38.84 per share for a slightly smaller shareholding of 35.56%.

MLCF currently holds a 15.18% share in AGL, with an additional 9.11% held by its affiliate, Maple Leaf Capital Ltd (MLCL). Combined, this acquisition would give MLCF and MLCL a controlling interest in AGL, positioning MLCF as a key player in the sector alongside its established cement production operations. MLCF operates Pakistan’s largest cement production site, with an annual clinker capacity of 7.8 million tons, under the umbrella of the Kohinoor Maple Leaf Group.

For professionals in the sector, this signals MLCF’s strategic expansion beyond cement into agribusiness, enhancing its presence in Pakistan’s agricultural supply chain and challenging FFC’s industry standing.