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,
Types of Shares | Quantity |
Ordinary Shares | 106,014,632 |
Listed Convertible Non-Voting Redeemable Cumulative Preference Shares | 61,748,756 |
Non-convertible Redeemable Cumulative Preference Shares with Limited Voting Rights | 248,639,905 |
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.
ISLAMABAD: During fiscal year 2023-24, Pakistan's telecom industry suffered heavy losses in Foreign Direct Investment…
ISLAMABAD: The State Bank of Pakistan (SBP) announced on Monday that it has decided to…
Pakistan is gearing up to accelerate its digital transformation with a 5G spectrum auction reportedly…
Reportedly, Apple will roll out a major update to its flagship lineups in the next…
The Punjab Education Department previously announced that winter holidays would commence on December 20, 2024,…
With the New Year fast approaching, renowned crypto analyst Tom Dunleavy has issued bold predictions…