FFC recommends subscription of shares of FFBL in rights issue


In a latest notification to the PSX, the Board of Directors of Fauji Fertilizer Company (PSX:FFC) , has recommended subscription of the shares of Fauji Fertilizer Bin Qasim (FFBL) in the Rights Issue not exceeding Rs. 2.4 billion for the approval of the Company’s members, subsequent to the decision by the latter to issue 38.2335% rights at a price of Rs. 14 per share.

The above investment is subject to the approval of FFC’s shareholders, for which the Board has proposed to convene an Extraordinary General Meeting on November 6, 2020.