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5h ago

Thatta Cement Buys 28% of Pearl Continental Operator, Completes Rs5.5 Billion Sukuk

The twin moves signal a pivot beyond cement backed by a newly completed Rs5.5 billion Islamic Sukuk.

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Overview

  • Thatta Cement purchased 9,107,800 voting shares of Pakistan Services Limited at Rs710 per share on October 13, taking a 28% stake valued at roughly Rs6.5 billion.
  • Pakistan Services Limited operates the Pearl Continental and Marriott hotel brands across major Pakistani cities, giving Thatta Cement a direct foothold in hospitality.
  • The company announced a rated, secured, listed and privately placed Islamic Sukuk worth Rs5.5 billion to reinforce its capital structure and fund growth initiatives.
  • For FY2025, profit after tax rose to Rs2.56 billion as earnings per share climbed to Rs30.18, with gross sales reported at Rs11.14 billion and gross profit at Rs2.15 billion.
  • TCCL highlighted ongoing sustainability and community programs, including a 5 MW solar plant, a 4.8 MW wind project operational since April 3, 2025, a waste-heat recovery plant, and significant tax and levy contributions.