Fauji Fertilizer Company Ltd. (PSX: FFC) has increased the offer price for acquiring up to 151 million ordinary shares of Agritech Limited (PSX: AGL) from Rs. 38.84 to Rs. 39.05 per share.
This revision in offer price comes in view of the competing bid made by Maple Leaf Cement Factory Ltd. (PSX: MLCF), by way of the public announcement of public offer, the company said in a notice to the Pakistan Stock Exchange (PSX) on Monday.
It added that the value of the security is accordingly increased from Rs. 5,867 million to Rs. 5,899 million.
It is pertinent to mention here that the principal business of AGL is the production and sale of Urea and Granulated Single Super Phosphate fertilizer.