Fatima Fertilizer Company Limited (FATIMA) has announced plans to acquire shares and debt of Agritech Limited, subject to regulatory limits.
The company intends to acquire ordinary shares, convertible preference shares, non-convertible preference shares, and other instruments, including zero coupon term finance certificates and zero coupon sukuks, of Agritech Limited. However, FATIMA will adhere to the restrictions imposed by section 111 of the Securities Act 2015 for the time being.
The company’s board may subsequently authorize the acquisition of up to majority voting shares, potentially exceeding the limits set by section 111.
Fatima Fertilizer primarily engages in the manufacturing, production, buying, selling, importing, and exporting of fertilizers and chemicals.
On Friday, FATIMA’s shares closed at Rs. 51.74 with a turnover of 341,773 shares.
