The Pakistan Stock Exchange (PSX) has confirmed that trading in the shares of Fauji Fertilizer Bin Qasim Limited (FFBL) will be suspended starting Monday, December 23, 2024. This move is part of the ongoing process for the entitlement of shares in Fauji Fertilizer Company Limited (FFC) following the court-approved merger between the two entities.
On December 4, 2024, the Lahore High Court’s Rawalpindi Bench approved the Scheme of Arrangement, facilitating the merger between FFBL and FFC. The ruling paves the way for FFBL’s assets, liabilities, and operations to be transferred to FFC, marking a major step in the formal integration of the companies.
FFBL announced that December 26, 2024, will be the final date for book closure, establishing the deadline for shareholders to qualify for the share allocation. According to the Scheme of Arrangement, FFBL shareholders will receive one FFC share for every 4.29 FFBL shares they hold.
As part of the merger process, trading in FFBL Futures Contracts for December 2024, January 2025, and February 2025 will end prematurely. PSX has set December 17, 2024, as the final trading day for these contracts, with settlement scheduled for December 19, 2024. These changes reflect the significant restructuring underway as FFBL prepares to merge with FFC.
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