FFC and NBP enter in sale purchase agreement for Agritech Limited shares

KARACHI: Fauji Fertilizer Company Limited (FFC) has entered a sale and purchase transaction with the National Bank of Pakistan, where FFC is purchasing the entire holding of NBP’s shares of Agritech Limited.

Both FFC and NBP informed the Pakistan Stock Exchange through statements on Tuesday.NBP has divested its entire shareholding in Agritech Limited. According to details, there are 106,014,632 ordinary shares; 61,748,756 listed, convertible, non-voting, redeemable and cumulative preference shares and 248,639,905 non-convertible, redeemable cumulative preference shares with limited voting rights.

According to NBP, the divestiture transaction was duly carried out as per the applicable law and regulations. FFC said, “We also wish to inform you that once the above-mentioned transaction is completed, we will be making mandatory disclosures to the PSX, the Securities and Exchange Commission of Pakistan and AGL, in accordance with the requirements of the Securities Act, 2015 read with the Listed Companies Regulations, 20217.”