FFC acquires 37.36% stake in Agritech Limited
MG News | May 08, 2025 at 03:51 PM GMT+05:00
May 08, 2025 (MLN): Fauji Fertilizer Company Limited (PSX: FFC) now holds a total of 223.83 million ordinary shares in Agritech Limited (AGL), representing 37.36% of the total paid-up share capital of AGL.
This follows the issuance of 91.66m ordinary shares to FFC through the conversion of preference shares previously held by FFC in AGL, the company's filing on PSX revealed today.
To note that FFC has successfully concluded its public offer for Agritech Limited (AGL), receiving 7.84m ordinary shares from the general public by the closure of the acceptance period on January 4, 2025.
Payments have been made to all participating shareholders, and the offer aimed to acquire up to 151.05m ordinary shares, representing approximately 35.57% of AGL's total paid-up share capital.
FFC also revised the offer price upward from Rs38.84 per share to Rs39.05 per share on November 20, 2024.
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