Fauji Fertilizer Acquires Significant Stake in Agritech Limited

Islamabad: Fauji Fertilizer Company Limited (FFC) has officially acquired a substantial voting share in Agritech Limited, the company announced on October 15, 2024. This acquisition marks a significant shift in ownership according to details released under the regulatory framework of the Pakistan Stock Exchange (PSX).

The transaction involved FFC purchasing 106,614.63 million voting shares of Agritech Limited at Rs. 37.42 per share, totaling an investment of Rs. 3.99 billion. This acquisition increases FFC’s stake in Agritech to 27.77%, bringing their total shareholding to 1,174.39 million shares. Previously, FFC held approximately 2.81% of Agritech with 11.92 million shares.

According to information available from the Pakistan Stock Exchange (PSX), the purchase was conducted in compliance with Section 110 of the Securities Act, 2015, and related regulations governing substantial acquisitions and takeovers. The notification to PSX outlined that this move does not alter FFC’s representation on Agritech’s Board of Directors, as the positions remain unchanged post-acquisition.

The strategic acquisition by FFC is part of its broader initiative to consolidate its holdings in key market sectors, with Agritech Limited being a notable player in the agriculture industry. This investment is expected to bolster FFC’s market position by leveraging Agritech’s capabilities and market presence.

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