The Board of Fauji Fertiliser Bin Qasim Limited (FFBL) has approved an aggregate investment of Rs 1.45 billion for the acquisition of all right shares offered to the company by Noon Pakistan Limited (NPL). The fertiliser giant has also got a nod from its Board of Directors for the formation of a committee to consider the offer made to it for the sale of certain voting and non-voting shares in NPL. The offer had been made by some shareholders of NPL.
The committee is expected to make its recommendations to the Board. Further, the Board, in its January 26 meeting, has also resolved to buy any renounced stocks offered to FFBL.
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