Fatima Fertilizer to launch ADR on Wall Street- Alfalah Securities Limited

Karachi, March 09, 2011 (PPI): Fatima Fertilizer gets a go ahead for the Depository Receipts (ADR) to be listed on the Over-the-Counter (OTC) market in New York.

According to Alfalah Securities Limited, the existing shares issued would be converted to ADRs to be traded in dollars. Fatima is an integrated fertilizer complex capable of producing Ammonia, Nitric Acid, NPK, CAN and Urea and the total cost of the fertilizer plant is around USD 750 mn.