Thatta Cement Company Limited (TCCL) has announced to offer 10 million (12.53 percent) ordinary shares of Rs 10 each at an offer price of Rs 22.5 per share including a premium of Rs 12.5 per share by an existing shareholder.
According to the company's announcement, the subscription list will open on February 26, 2008 and will close on February 27, 2008. Arif Habib, Chairman and CEO of TCCL, in a presentation at Karachi Stock Exchange (KSE) here on Friday said that Thatta Cement Company Limited was incorporated in 1980 as a public limited company.
It was a wholly owned subsidiary of State Cement Corporation of Pakistan (Pvt) Limited. In the year 2003, the consortium of Arif Habib and Al Abbas Group acquired 100 percent shares of the company from the Privatisation Commission at a price of Rs 9.95 per share and in 2004 took over its management control.