NBP sells entire stake in Agritech Limited

MG News | October 15, 2024 at 02:51 PM GMT+05:00

0:00

October 15, 2024 (MLN): The National Bank of Pakistan (NBP) has informed today that it has divested its entire shareholding in Agritech Limited (PSX: AGL).

The divestment comprises 106,014,632 ordinary shares, 61,748,756 listed convertible non-voting redeemable cumulative preference shares, and 248,639,910 non-convertible redeemable cumulative preference shares with limited voting rights.

Fauji Fertilizer Company Limited (PSX: FFC) has entered into a sale and purchase agreement with NBP to acquire NBP's entire holding of shares and securities in AGL.

To recall, on October 10, 2024, the bank’s directors approved the agenda to sell the entirety of NBP's shareholding in AGL.

The bank further confirmed in a statement to PSX that the divestiture transaction was duly executed in compliance with applicable laws and regulations.

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