Karachi: Fauji Fertilizer Company Limited has formally announced a public offer to acquire 151,052,013 ordinary shares of Agritech Limited, representing a substantial acquisition under the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. The public offer marks an effort by Fauji Fertilizer to gain control over Agritech Limited, a key player in Pakistan's agriculture sector.

The offer was made public through official notices published in leading newspapers, including The Nation and Nawa-e-Waqt, on October 25, 2024. This follows a prior letter dated October 23, 2024, notifying relevant authorities of the acquisition move. The offer is made in accordance with the regulations outlined by the Securities and Exchange Commission of Pakistan (SECP), ensuring compliance with all applicable laws.

According to information available from the Pakistan Stock Exchange (PSX), this acquisition represents a significant transaction within the fertilizer and agriculture industries. The offer includes relevant annexures detailing the acceptance period and associated terms, which were submitted to the SECP for approval.

Fauji Fertilizer’s acquisition of Agritech Limited is expected to strengthen its position in the market, broadening its footprint within the agriculture and fertilizer sectors. The move is also expected to trigger further developments within the industry as major players seek to expand their influence.