The Board of Directors of Fauji Fertilizer Company Limited (PSX: FFC) has approved the acquisition of shares and control in Agritech Limited (AGL). This move will be led by FFC, potentially in collaboration with associated companies, other shareholders of AGL, or additional entities.

The acquisition is contingent upon the completion of necessary corporate and regulatory formalities. The Board has authorized the issuance of a Notice of Intention to AGL, the Pakistan Stock Exchange (PSX), and the Securities and Exchange Commission of Pakistan (SECP).

Integrated Equities Limited has been appointed as the Manager to the Offer (MTO), and the Board has sanctioned the commencement of due diligence and negotiation of acquisition terms.

Fauji Fertilizer Company’s primary activities include the manufacturing, purchasing, and marketing of fertilizers and chemicals. The company also invests in other sectors such as fertilizers, chemicals, cement, energy generation, food processing, and banking operations.

At the time of the announcement, FFC’s stock was trading at Rs. 180.89 on the bourse, reflecting a decrease of 1.83 percent or Rs. 3.38, with over 3.38 million shares traded on Tuesday.