Fauji Fertilizer Company Limited (FFC): Acquisition of NBP’s stake in AGL – By Foundation Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Today, FFC notified that it has purchased ~106Mn shares of Agritech Limited (AGL) from National Bank of Pakistan (NBP).</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Furthermore, FFC has also acquired ~62Mn preference shares of AGL from NBP along with another ~249Mn shares which are to be allotted as per Scheme of Arrangement approved by Lahore High Court dated June 3, 2022.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The transaction size equates to Rs. 3.97Bn for ~106Mn ordinary shares only. Note that NBP was the largest single shareholder in Agritech Limited, with a stake exceeding 27%. This acquisition is in line with the company&rsquo;s ear...