September 20, 2022 (MLN): Fauji Foods Limited (FFL) is issuing shares to Fauji group subsidiaries, the total volume of shares is 1.17bn at par Rs10 per share, the company’s stock filings on the stock exchange showed.
The disbursement of shares is as follows,
FFB Power Limited
FFC Energy Limited
Fauji Foundation (FF)
Fauji Fertilizer Bin Qasim Ltd (FFBL)
This issue of shares is against cash, except FF with total shares worth Rs2,350,000,000 from which Rs350,000,000 is against cash and Rs2,000,000,000 shares are against the conversion of subordinated loan to equity, and Shares to FFBL will issue against the conversion of accrued markup on a subordinated loan amounting to Rs 708,749,800 to equity.