SECP allows FFL to issue 1.17bn shares

MG News | January 24, 2023 at 02:46 PM GMT+05:00

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January 24, 2023 (MLN): The Securities Exchange Commission of Pakistan (SECP) on Monday allowed Fauji Foods Limited (PSX: FFL) to issue 1.17 billion shares at the rate of Rs10 per share, amounting to Rs11.78bn by way of other than the right offer, the notice sent to PSX showed today.

Accordingly, FFBL Power Company Limited and FFC Energy Limited will be issued 400 million, and 465mn shares, respectively through fresh cash injection.

Meanwhile, 235mn shares will be issued to Fauji Foundation through fresh cash injection and conversion of loan.

In addition, Fauji Fertilizer Bin Qasim Limited will be issued 70.87mn through the conversion of markup on loans.

At the time of writing, the scrip of FFL is being traded at Rs4.56, up by 16 paisa or 3.64% DoD.

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