Fauji Fertilizer Company Limited (FFC) has announced a major corporate restructuring through the FFC FPCL Share Swap agreement with its parent organization, Fauji Foundation.
This move will give FFC 100% ownership of its associated company, FFBL Power Company Limited (FPCL), strengthening its presence in Pakistan’s power and fertilizer sectors.
According to a notice issued to the Pakistan Stock Exchange (PSX), FFC’s Board of Directors approved the acquisition of 214,687,500 ordinary shares of FPCL — representing 25% of its paid-up capital — from Fauji Foundation.
Share Swap Details and Approvals
In return, Fauji Fertilizer will issue 15,914,566 new ordinary shares to Fauji Foundation. The issuance will be outside of a rights offer and for consideration other than cash.
The transaction is subject to approval from both FFC shareholders and the Securities and Exchange Commission of Pakistan (SECP).
An extraordinary general meeting (EOGM) has been scheduled for December 8, 2025. Shareholders will vote on:
The share swap transaction.
Investment in Agritech Limited, another associated company.
Amendments to the company’s Articles of Association.
(For related coverage, visit Pakistan Fertilizer Industry News and Corporate Updates).
Impact of the FFC FPCL Share Swap
Following completion, FFC will hold 100% ownership of FPCL, consolidating its role in the power generation segment.
In turn, Fauji Foundation’s shareholding in FFC will rise to 44.14% after the issuance of new shares.
FFC said the internal restructuring will improve synergy and efficiency across operations, especially at its Port Qasim plants. The company expects the integration to deliver better shareholder returns through cost savings and higher dividends.
Internal Reorganization and Market Valuation
FFC clarified that the FFC FPCL Share Swap is an internal group restructuring, with no change to overall ownership control. The newly issued shares will carry equal rights as existing shares.
The swap ratio was independently evaluated by KPMG Taseer Hadi & Co.
According to market data, the three-month average share price of FFC stood at Rs. 461.56, with the latest trading price at Rs. 489.44.
(Source: Pakistan Stock Exchange Notice – FFC)
Strategic Rationale Behind the Move
Through this acquisition, FFC aims to align its fertilizer and power operations for improved operational stability and energy efficiency.
The move supports long-term growth and reinforces FFC’s position as a leading integrated fertilizer and energy enterprise in Pakistan.