Islamabad, Jan 13: Agritech Limited (AGL), a subsidiary of Fauji Fertilizer Company Limited (PSX: FFC), recently completed its public offer for ordinary shares, managed by Integrated Equities Limited. The offer has been deemed a significant milestone, reflecting strong investor confidence and successful execution of the process.
The acceptance period for the public offer began on Thursday, December 12, 2024, and concluded on Saturday, January 4, 2025. The general public tendered 7.847 million ordinary shares of Agritech Limited during this period.
This response came against a total public offer of 151.05 million shares, showcasing noteworthy public participation despite prevailing market conditions.
CCP hosts expert session on cartel screening and detection methods
The company verified all submitted documents and confirmed the acceptance of tendered shares. On January 6, 2025, it processed payments to shareholders, ensuring transparency and efficiency.
In compliance with Regulation 16(1)(a) of the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations 2017, the Manager to the Public Offer has since released the security furnished by the acquirer. This move signifies the conclusion of the procedural requirements associated with the public offer, paving the way for further integration and operational advancements at Agritech Limited.
The success of this public offer underscores the credibility of Agritech Limited and its parent company, Fauji Fertilizer Company Limited. It also highlights the robustness of Pakistan’s equity market, which continues to attract investments even in challenging times.
Bank Alfalah Acquires 9.9% Stake in Leading UAE Fintech Firm
With this milestone achieved, Agritech Limited is well-positioned to channel the proceeds towards its strategic goals, ensuring growth and delivering value to its stakeholders.
Investors and shareholders alike can look forward to witnessing the company’s efforts in driving sustainable progress and innovation in the agricultural sector.
As the dust settles on this major financial event, FFC and Agritech Limited reaffirm their commitment to maintaining strong relationships with shareholders and contributing to Pakistan’s economic growth.
