PARENT COMPANY
Governance / Parent Company
Meskay and Femtee Trading Company Private Limited
Meskay and Femtee Trading Company (MFTC) has been a trusted name and a leading rice mill in Pakistan since 1936. With decades of expertise, we specialize in the growing, milling, processing, and global export of agricultural products, including premium rice, wheat, corn, sesame seeds, and guar gum. Our diverse business operations also encompass trading in agricultural food items, agricultural machinery, and providing dedicated farming services. Backed by a strong supply network, we are committed to delivering consistent, international-standard products to wholesalers, retailers, and distributors worldwide.
Acquisition of Mandviwalla Mauser Plastic Industries Limited (MMPIL)
In a strategic conglomerate merger, MFTC expanded its business portfolio by acquiring a majority controlling stake in Mandviwalla Mauser Plastic Industries Limited (MMPIL), a company that manufactures industrial plastic products such as barrels, drums, chairs, and handling crates.
- MFTC successfully acquired 21,391,485 ordinary shares from Mr. Azeem H. Mandviwalla. This accounted for 74.41% of MMPIL’s issued and paid-up capital. The shares were acquired under a Share Purchase Agreement at a negotiated price of PKR 5.0534 per share, for a total consideration of PKR 108,100,000.
- In compliance with takeover laws, MFTC subsequently made a public offer to acquire up to the remaining 25.59% of the share capital, which amounted to 7,356,648 ordinary shares. The offer price was determined at PKR 13.47 per share based on the company’s net asset value.
- By the close of the acceptance period in April 2025, 7 public shareholders participated, tendering a total of 1,600 shares. MFTC accepted and processed all 1,600 tendered shares.
- The transaction was formally authorized by the Competition Commission of Pakistan (CCP). All post-acceptance formalities and regulatory obligations were officially completed and reported to the Securities and Exchange Commission of Pakistan (SECP).