Karachi: Integrated Equities Limited has publicly announced that the Fauji Foundation intends to acquire shares and take control of Agha Steel Industries Limited, under the provisions of the Securities Act, 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The announcement, made today, refers to a previous letter dated 29 August 2024, which detailed the Fauji Foundation's acquisition plans. According to information available from the Pakistan Stock Exchange (PSX), this intent to acquire is part of a strategic move to enhance the holdings and control within Pakistan’s steel sector by the Fauji Foundation.

Notices regarding this intention have been published in today's editions of Business Recorder and Nawai Waqt, providing transparency and adhering to regulatory requirements outlined in the Act and the Regulations. The publication in these prominent dailies ensures that the stakeholders are fully informed about the upcoming changes in the ownership and control dynamics of Agha Steel Industries Limited.