Attock Cement Pakistan receives sales proceeds from the Iraqi plant

Attock Cement Pakistan Ltd informed the Pakistan Stock Exchange (PSX) on 9 September that it had received the sales proceeds of its stake in a cement facility in Iraq.

Attock Cement has completed the sale of its shareholding in its subsidiary, Saqr Al Keetan for Cement Production Co Ltd (SAKCPCL), receiving the third tranche of payment amounting to US$5.850m. This marks the final consideration against the sale of the remaining 4.5m shares held in SAKCPCL.

The company is now initiating the transfer of the remaining 4.5m shares to one of the buyers in full compliance with the share purchase agreement under the prevailing law of Iraq.