PSX suspends trading in FFBL shares for FFC amalgamation

MG News | December 09, 2024 at 06:29 PM GMT+05:00

0:00

December 09, 2024 (MLN): The Pakistan Stock Exchange (PSX) has suspended trading in the shares of Fauji Fertilizer Bin Qasim Limited (FFBL), effective from Monday, December 23, 2024, for entitlement of shares of Fauji Fertilizer Company Limited (FFC) pursuant to the amalgamation of FFBL with and into of FFC.

The Lahore High Court, Rawalpindi Bench vide its judgment issued on December 04, 2024, has sanctioned the Scheme of Arrangement for Amalgamation of FFBL with and into FFC.

FFBL vide letter dated December 09, 2024, has announced December 26, 2024 as the final date of Book Closure.

In terms of the Scheme of Arrangement, the shareholders of FFBL will be allotted 1 share of FFC against 4.29 shares of FFBL.

In view of the above, trading in all Futures Contracts of Fauji Fertilizer Bin Qasim Limited FFBL-DEC-2024, FFBL-JAN-2025 and FFBL-FEB-2025 will be pre-matured/closed as per standard practice.

Hence, the last trading day of aforesaid Futures Contracts will be Tuesday, December 17, 2024, and the corresponding settlement date will be Thursday, December 19, 2024.

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