Karachi, Fauji Fertilizer Company Limited informed Pakistan Stock Exchange that the Board of Directors of the Company approved submission of LOIs to Fauji Foundation and Fauji Fertilizer Bin Qasim Limited for the acquisition of their entire equity shareholding in Foundation Wind Energy I Limited and Foundation Wind Energy II Limited.
That the Company and FF have obtained approvals of their respective Boards, to sell their entire shareholding in target Companies to FFC subject to shareholders approval, where applicable, at an aggregate consideration not exceeding PKR 14,072,340,000/-
Fauji Fertilizer Company Limited is a public company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is manufacturing, purchasing and marketing of fertilizers and chemicals, including investment in other fertilizer, chemical, other manufacturing, and energy generation and banking operations. The shares of the company are quoted on the Karachi, Lahore and Islamabad stock exchanges of Pakistan. The registered office of the company is situated at Rawalpindi and it is domiciled there.
Associated companies of the group are FFC Energy Limited, Fauji Fertilizer Bin Qasim Limited, Askari Bank Limited and Al-Hamd Foods Limited.
The symbol “FFC” is being used by the stock exchanges for the shares of Fauji Fertilizer Company Limited.