NBP Fully Divests Its Stake in Agritech Limited

The National Bank of Pakistan (NBP) has announced the complete divestment of its shares in Agritech Limited, as stated in an official notice issued to the Pakistan Stock Exchange (PSX) on Tuesday.

According to a Scheme of Arrangement approved by the Lahore High Court,

According to NBP, the deal was finalized after all the legal and regulatory formalities were fulfilled.

The Pakistan Stock Exchange (PSX) has been directed to notify TRE certificate holders that the divestiture has been completed.

Additionally, the NBP board had previously given its approval to divest all of its shares in Agritech Limited earlier on October 9.

Fauji Fertiliser (FFCL) approved the purchase of s and control of Agritech Limited and any affiliated company(ies) in September.

FFC informed Agritech, the Pakistan Stock Exchange (PSX), and the Securities and Exchange Commission of Pakistan (SECP) about its intention to conduct business through a Notice of Intent (NOI). The company has appointed Integrated Equities Limited as the offer manager and has authorized the commencement of due diligence and negotiations regarding the acquisition terms.

The acquisition of ordinary shares, convertible and non-convertible preference shares, zero coupon term finance certificates, and zero coupon sukuks, among other financial instruments, from Agritech Limited was disclosed in August by Fatima Fertilizer.