SECP approves Big Bird Foods plan to convert Rs1.5 billion directors’ loan into equity

Big Bird Foods Limited has received approval from the Securities and Exchange Commission of Pakistan (SECP) to convert directors’ loans worth Rs1.5 billion into equity through a further issue of shares.

In a disclosure submitted to the Pakistan Stock Exchange on Friday, the company said the conversion will be carried out through the issuance and allotment of 30,352,084 ordinary shares.

The shares will be issued to directors at Rs49.42 per share, which includes a premium of Rs39.42 per share.

The decision follows approval granted by shareholders during the company’s annual general meeting held on October 28, 2025, allowing the conversion of directors’ loans into equity.

The company subsequently filed an application with the SECP under Section 83(1)(b) of the Companies Act, 2017 for the further issue of shares other than through a right offer.

Big Bird Foods said the SECP has approved the application, allowing the company to proceed with the equity conversion through the issuance of new shares to directors.