Karachi: Fauji Fertilizer Company Limited has made a public announcement regarding its offer to acquire 151,052,013 ordinary shares of Agritech Limited, in line with the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The offer aims to acquire a controlling stake in Agritech Limited.

The offer was formally announced through notices published in the daily newspapers, including The Nation and Nawa-e-Waqt, on October 25, 2024. This follows an earlier letter issued on the same date, notifying relevant authorities and stakeholders of the impending acquisition.

According to information available from the Pakistan Stock Exchange (PSX), Fauji Fertilizer’s move represents a significant transaction under the regulatory framework governing public offers and acquisitions. The announcement underscores the company’s intent to expand its portfolio and gain control of Agritech Limited, a major player in the agriculture and fertilizer sector.

The proposed offer letter, along with relevant annexures, has been submitted to the Securities and Exchange Commission of Pakistan (SECP), providing the necessary details for acceptance periods and further regulatory processing.