Fauji Fertilizer Company Limited (PSX: FFC) has announced a public offer to acquire 151.05 million ordinary shares of Agritech Limited, a development that signals FFC’s move to gain control of the company. This acquisition process is being conducted under the Securities Act, 2015, and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017.
The public offer was formally disclosed through a filing on the Pakistan Stock Exchange (PSX) by Integrated Equities Limited, acting as the Manager to Offer. This filing follows a Public Announcement of Intention, initially made on 12 September 2024 and published in prominent newspapers, Nawa-e-Waqt and The Nation.
In accordance with the regulatory requirements, FFC has submitted the Public Announcement of Offer under Regulation 7(2) of the Takeover Regulations. The company also confirmed that any additional documents needed, as outlined in Regulation 7(5), will be provided separately to the Securities and Exchange Commission of Pakistan (SECP).
To ensure transparency in the acquisition process and provide shareholders and the public with necessary information, FFC will publish the Public Offer announcement in Nawa-e-Waqt and The Nation on October 25, 2024.
This acquisition bid positions FFC to potentially expand its footprint in the agricultural sector by taking a substantial stake in Agritech Limited, a key player in Pakistan’s fertilizer and agrochemical industry. The public offer could be a strategic move for FFC to consolidate its market presence and enhance its production capabilities.
