Islamabad: Fauji Fertilizer Company Limited (FFC) has formally announced its intention to acquire a significant number of shares in Agritech Limited, marking a substantial move within Pakistan's fertilizer industry. This development comes as FFC seeks to purchase 151,052,013 ordinary shares, as outlined in its recent Public Announcement of Offer. The acquisition is being pursued under the framework of the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.

The announcement was initially made via a letter to the Pakistan Stock Exchange (PSX) on October 23, 2024, and has since been published in local newspapers, The Nation and Nawa-e-Waqt. According to information available from the Pakistan Stock Exchange (PSX), this move is expected to grant FFC control over Agritech Limited, thereby expanding its influence in the market.

Further details regarding the dates of the Acceptance Period will be provided after the submission of the proposed Offer letter to the Securities and Exchange Commission of Pakistan (SECP). The company has assured that all relevant information will be communicated to the Trading Right Entitlement Certificate (TREC) holders in due course.