Karachi: The Board of Directors of Fauji Fertilizer Company Limited (FFC) has approved the submission of an Expression of Interest (EOI) and prequalification documents to the Privatization Commission concerning the potential acquisition of stakes in Pakistan International Airlines Corporation Limited (PIA). This decision was made during the company's 234th Board of Directors Meeting, held on June 13, 2025.

The move aligns with the requirements set forth in Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book of the Pakistan Stock Exchange Limited. The board's approval marks a significant step as FFC embarks on a comprehensive due diligence exercise regarding the acquisition.

According to information available from the Pakistan Stock Exchange (PSX), the submission of EOI and prequalification documents is a critical phase in the process of acquiring stakes in PIA. This move indicates FFC's intention to explore potential growth opportunities through strategic investments in the aviation sector.

Stakeholders and Trading Right Entitlement Certificate (TREC) holders are advised to stay informed about the developments as the company progresses with its plans. The acquisition, if successful, could potentially impact the market dynamics within the transportation sector, a designated market category of significance to FFC's strategic interests.