ICI board allows management to submit binding bid


KARACHI: The Board of Directors of ICI Pakistan Limited has authorized the management of the company to submit a binding bid in relation to the acquisition of approximately 75.01 percent of the issued and paid-up capital of Lotte Chemical Pakistan Limited, comprising 1,135,860,105 ordinary shares.

Further, proceeding with the transaction is subject to the acceptance of the binding bid and finalization of the terms and conditions of the share purchase agreement, material information sent to Pakistan Stock Exchange on Friday said.