FFL issues 1.17bn shares to Fauji group subsidiaries

Did you know- FFL issues 1.17bn shares to Fauji group subsidiaries

FFL issues 1.17bn shares to Fauji group subsidiaries!

Shareholders of FFL in the meeting held today resolves to issue 1.17bn shares to Fauji group subsidiaries at par Rs10 per share. This has been confirmed via Company’s filing on PSX.

The disbursement of shares is as follows:

CompanyShares Volumeat ParTotal Value
FFBL Power Limited (FPCL)400,000,000Rs10Rs4bn
FFC Energy Limited (FFCEL)465,000,000Rs10Rs4.65bn
Fauji Foundation (FF)235,000,000Rs10Rs2.35bn
Fauji Fertilizer Bin Qasim Limited70,874,980Rs10Rs708.75mn
The issuance of shares is against cash, except Fauji Foundation with total share worth Rs.2.35bn from which Rs350mn is against cash and Rs2bn shares are against the conversion of subordinated loan to equity.

In the meantime, the FFBL share will be issed against the conversion of accrued markup on a subordinated loan, worth Rs708.75mn to equity.