Islamabad, Sep 10: The acquisition of shares and control of Agritech Limited (AGL) by the Company, along with any related company(ies), any other shareholder(s) of the Target, or any other person/entity, led by the Company, has been approved by the Board of Directors of Fauji Fertilizer Company Limited (PSX: FFC).
The Board approved the issuance of a Notice of Intention to AGL, PSX, and SECP, designated Integrated Equities Limited as Manager to the Offer (MTO), and approved the start of due diligence and acquisition terms negotiations, subject to the fulfillment of any applicable corporate and regulatory requirements.
The company’s main business activities include the production, acquisition, and sale of chemicals and fertilizers. Other activities include investing in chemicals, cement, energy production, food processing, fertilizer, and banking. The company’s shares on the market were trading at Rs. 180.89 at the time of reporting, down 1.83 percent or Rs. 3.38 with over 3.38 million shares on Tuesday.
