Fauji Fertilizer Company Limited (FFC) has significantly increased its stake in Agritech Limited, effectively gaining control of the company.
FFC acquired 106,014,632 voting shares of Agritech Limited at a price of Rs. 37.42 per share, bringing its total shareholding to 117,934,632 shares, representing 27.77 percent of Agritech Limited’s total issued voting shares.
Prior to this acquisition, FFC held a 2.81 percent stake in Agritech Limited.
Agritech Limited is primarily engaged in the manufacturing, purchasing, and marketing of fertilizers and chemicals. The company also has investments in other sectors such as cement, energy generation, food processing, and banking.
Following the announcement, FFC’s share price closed at Rs. 254.5 on Wednesday, down 0.24 percent.
