Islamabad, Oct 15: NBP Divests Entire Stake in Agritech Limited, Exits Fertilizer Sector. Agritech Limited (PSX: AGL) is no longer owned by National Bank of Pakistan (PSX: NBP). In a stock filing on Tuesday, the National Bank of Pakistan said that it has sold all of its shares in Agritech Limited.
The divested stake included 248,639,905 non-convertible/redeemable/cumulative preference shares with limited voting rights (allocated/to be allotted in accordance with the Scheme of Arrangement approved by the Lahore High Court), 106,014,632 ordinary shares, and 61,748,756 listed/convertible/non-voting/redeemable/cumulative preference shares.
The filing further stated that it seeks to verify that the divestiture transaction was properly completed in accordance with the relevant laws and regulations. In Pakistan and abroad, the Bank offers commercial banking and associated services.
As an agent of the State Bank of Pakistan, the Bank also manages Treasury transactions for the Government of Pakistan (GoP). With more than 2.8 million shares on Tuesday, NBP’s scrip at the stock exchange was Rs. 69.24 at the time of reporting, down 0.93% or Rs. 0.65.
