Fauji Foods to grow Rs7.8 billion via sharing rights

Fauji Foods which has the highest business and is listed as the 10^th largest food company concerning total sales will soon be growing its paid-up capital with 78.08 million shares. The stockholders will be holding 97.2 right shares.

The company has given its stockholders an opportunity to purchase the new share at a convenient price that is less than the market price range. This has led the share price of Fauji Foods to be reduced by 1.06% and closed at Rs19.02. The company has taken this step of doubling the paid-up capital via rights issues to work on the current debt levels.