The Pakistan Stock Exchange Limited (PSX) has announced the listing of Big Bird Foods Limited (BBFL) and MetaTech Trading Limited’s delisting, effective Monday, August 5, 2024.
This listing follows the merger and amalgamation of MetaTech Trading Limited (META) into Big Bird Foods Limited, sanctioned by the Lahore High Court on June 26, 2024.
According to the PSX notification, the shareholders of META have been allotted 0.24 shares of BBFL for each share of META, as per the swap ratio disclosed in the merger scheme.
Trading in BBFL shares will commence on the PSX Main Board from August 5, 2024, with settlements on a T+2 basis. The first settlement date is set for Wednesday, August 7, 2024.
The market lot for BBFL will be one share, valued at PKR 10 each. The shares of BBFL have been declared eligible securities by the Central Depository Company of Pakistan Limited (CDC).
All transactions will be settled through the National Clearing Company of Pakistan Limited (NCCPL), assigned “BBFL” as the company’s code/security symbol.
The opening price for BBFL shares will be PKR 51.28 per share, as determined by the company and certified by the auditor. This information was disseminated through PUCARS on July 23, 2024.
BBFL will be listed under the “Food & Personal Care Products” sector in the daily quotation of the exchange.
The PSX said in a separate notice that following a merger/amalgamation, MetaTech Trading Limited shall stand delisted from the Exchange with effect from Monday, August 05, 2024.
MetaTech said in its notice to the PSX, that upon the completion of the merger, the company had been dissolved under the order of the Lahore High Court without winding up.
