Karachi December 01, 2021: Today is the last date of trading in shares of Fauji Food Limited Unpaid Right with settlement date of 3rd December 2021.
FFL Right is trading at PKR 0.64 down PKR 0.10 (Time PST 3:05 PM) in today’s trading session at Pakistan Stock Exchange.
Last date of subscription request and payments in FFL unpaid right is 8th December 2021 while tentative date of credit of shares against rights issue is 28th December 2021.
Fauji Food Limited issued 97.19916 right shares for every 100 ordinary shares held i.e. 97.19916 percent. Proceeds raised through right issue will be utilized to reduce current debt levels, manage and optimize working capital.
The Right issue of FFL is being made at par value of PKR 10/- each and hence, there is no major investment risk associated with the right issue. Normal risks associated with business will remain. However, based on it H1 2021 performance company is well placed in the market which will help to mitigate such risks factors.
Reduction of debt level will mitigate the adverse impact on profitability on the account of financial charges, Optimize working capital will ensure smooth operations of the company and maintain a healthy debt to equity ratio.
