FFBL invests Rs2.18bln in NPL

KARACHI: Fauji Fertilizer Bin Qasim Limited (FFBL) has invested Rs2.18 billion in Noon Pakistan Limited (NPL), another Fauji Group subsidiary engaged in the production of dairy products and juices in the country.  

In its investment information released to Pakistan Stock Exchange (PSX) on Friday, FFBL also announced that it subscribed 456,422 unsubscribed shares of NPL for Rs13.59 million.

After this subscription, FFBL holds a total of 55.25 million ordinary shares, and 11.16 million non-voting ordinary shares in the NPL.

The shareholders of the Fauji Fertilizer Bin Qasim Limited, in their Annual General Meeting on 8 March, 2016, had already approved an investment of up to Rs2.55 billion in the NPL.

Of which, Rs2.18 billion have been invested.

The Noon Pakistan Limited’s dairy products known as Nurpur Foods have their head office in Lahore and dairy plant in Sargodha district.