FCCL and ACL amalgamation completed

Fauji Cement Company Limited (FCCL) has informed Pakistan Stock Exchange (PSX) today that the FCCL Board have approved a Scheme of Arrangement (the “Scheme) for the amalgamation of Askari Cement Limited with and into FCCL and its placement before the shareholders in the Extraordinary General Meeting of the Company as Special Business for their approval as per requirements of Companies Act 2017.

Meanwhile, according to local media (BR), Fauji cement considered to be one of the smaller cement players in the north with one of the lowest earnings per share in 1Q is all set to climb up the ladder by a few hoops. By FY25, after merging with Askari Cement (the plant is already a subsidiary of Fauji Foundation), and undergoing expansions at both the Fauji and Askari plants, the cement player will have knocked Lucky Cement off its 2nd position taking its place next to Bestway.

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