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Fauji Cement now #2 in the North, Pakistan

byNews Desk
November 5, 2021
in Business, Economy
Reading Time: 1 min read
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Fauji Cement #2 in the North
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In current month, Fauji Cement Company Limited merged with Askari Cement, a Pakistani conglomerate.

The pattern of shareholding of Fauji Cement shows that it has a free float of 55%. 48% stake is owned by associated companies and 28% by the general public.

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After this, FCCL is set to become second biggest cement player in North after amalgamation of Askari cement with and into FCCL and expansions of 2.05mn tons each at D.G Khan and Nizampur site.

Furthermore, FCCL market share in North would increase from current 6.7% (11.9% including Askari) to 13.2% which would be second highest after BWCL market share of 19.2% in north region.

To highlight, they have only incorporated the impact of FCCL Greenfield expansion of 2.05mn tons as we wait for further disclosure of Askari amalgamation transaction to incorporate this in our valuation.

To highlight, post amalgamation synergies would provide further upside to our FCCL Jun-22 TP of Pkr27.6/sh.

Tags: Fauji CementLucky Cement
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