SECP Allows Fauji Foods to Issue 274 Million Shares to FFBL

Karachi: Securities and Exchange Commission allowed Fauji Foods to issue more than 274 million shares at a face value of PKR 10, each.

The Board of Director of Fauji Foods Limited on April 2,2020 passed a resolution to issue further shares. Fauji Foods sought SECP’s approval for issuing these shares.
on June 19,2020, SECP stated: “the Commission has allowed the company to issue 274,886,371 shares at face value of PKR 10 to Fauji Fertilizer Bin Qasim by the way of other than right under clause (b) of sub section (1) of section 83 of the companies act 2017, read with regulation 5 of the Companies (Further Issue of Shares) Regulations 2020.”

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