FFC Approves Fauji Fertilizer Bin Qasim Merger Evaluation

The Board of Directors of Fauji Fertilizer Company Limited (PSX: FFC) in their meeting held today granted an approval to evaluate the potential amalgamation of Fauji Fertilizer Bin Qasim Limited (FFBL) with and into FFC by way of a scheme of arrangement. Currently, FFC holds a 49.88 percent stake in FFBL. Potential amalgamation is expected to result in synergies that are likely to add value to the combined enterprise. The principal activity of the Company is manufacturing, purchasing, and marketing of fertilizers and chemicals, including investment in other fertilizers, chemicals, cement, energy generation, food processing, and banking operations. At the time of filing, FFC’s scrip at the bourse was Rs. 168.83, down 3.75 percent or Rs. 6.58 with a turnover of 1.47 million shares on Friday.