FFBL to increase paid-up capital of PKR 4.99 billion through Right Issue

News Image

MG News | October 06, 2020 at 12:20 PM GMT+05:00

0:00

October 06, 2020 (MLN): Fauji Fertilizer Bin Qasim Limited, in an announcement to Pakistan Stock Exchange (PSX), said that its board has decided to increase the paid-up share capital of the Company by the issue of a further 357,142,857 ordinary shares, having face value of PKR 10 each, as Right Shares.

The ordinary shares will be offered to the members in a proportion of 38.2335 Right Shares for every 100 ordinary shares held i.e. 38.2335%, at a price of PKR 14 per Right Share (inclusive of a premium of PKR 4 per Right Share).

It is pertinent to mention that the purpose of raising the sum of PKR 4,999,999,998 through Right Issue is to reduce current debt levels, manage working capital, and to support subsidiaries.

Considering the current market price of the Company, the premium charged over the par value is in line with the prevailing market practice (27% discount on the last three months average trading share price), the notification said.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,799.33
15.75M
-0.10%
-140.54
ALLSHR 84,479.36
31.21M
-0.14%
-121.02
KSE30 41,294.36
2.12M
-0.19%
-79.32
KMI30 190,372.39
2.02M
-0.37%
-697.58
KMIALLSHR 55,620.18
12.98M
-0.21%
-117.89
BKTi 38,174.61
0.36M
-0.82%
-315.14
OGTi 27,709.32
0.12M
-0.28%
-78.83
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,555.00 118,465.00
117,255.00
815.00
0.70%
BRENT CRUDE 68.84 69.09
68.81
0.13
0.19%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.77 67.00
66.73
0.25
0.38%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 16, 2025 at 09:32 AM GMT+05:00

PTCL hit by Supreme Court ruling on pension liabilities


July 16, 2025 at 06:18 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg