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PABC generates Rs2 13bn thru IPO - Newspaper

KARACHI: The Pakistan Aluminium Beverage Cans Ltd (PABCL) generated a sum of Rs2.13 billion through its initial public offering against receipt of applications for 43.4m shares at the strike price of Rs49 per share. The issue size being 23.5m shares at Rs49 per share amounting to Rs1.15bn, the offer was over-subscribed by 1.85 times. The figures released by the lead managers and book runners Arif Habib Ltd to the PSX showed that the highest number of applications for 2,000 shares and above per application were filed by 598 applicants for 39.4m shares worth Rs1.93bn. A total of 1,696 applicants asked for minimum shares of 500 each in the total sum of Rs41.6m. Shahid Ali Habib CEO at Arif Habib Ltd said that the PABC had received the highest contribution of Rs10.8bn in its book building. “The offer has also seen the highest participation through CDC E-IPO portal”, he said.

Pakistan Stock Exchange sees eight IPOs in FY21 - Newspaper

KARACHI: The Pakistan stock market saw a thriving Initial Public Offering (IPO) market in the FY21. In all eight equity offerings were witnessed during the year which raised Rs20bn, the highest sum mobilised by corporates in 14 years the previous best was 12 transactions in FY07. The eight new listings included: The Organic Meat Company, TPL Trakker Limited, Agha Steel Industries Limited, Panther Tyres Ltd, Service Global Footwear Ltd, Citi Pharma Ltd and Pakistan Aluminium Beverage Cans Ltd. The eighth was a preference share issuance of Engro Polymer and Chemicals Ltd. Head of Research at Arif Habib Ltd Tahir Abbas said that besides the equity offerings, Bank Alfalah Ltd issued a Term Finance Certificate (TFC) during the year to raise up to Rs11bn. “Hence, total capital raised via debt plus equity IPOs stood at Rs31bn in FY21”.

PABC IPO general subscription starts today

PABC IPO general subscription starts today June 29, 2021 KARACHI: The Pakistan Aluminium Beverage Cans Ltd (PABC) will offer 23.4 million shares or 25 percent of its total initial public offering (IPO) for general subscription on Tuesday (today) at the strike price of Rs49, a statement said. The IPO subscription for the general public would remain open on June 29 and 30 from 9:00am to 5:00pm, during the banking hours, while e-IPO process would continue for 24 hours, the statement added. The book-building phase of PABC concluded last week with an oversubscription of 3.3 times and highest ever record-breaking participation of Rs10.8 billion by investors, making PABC the largest IPO after Interloop from the private sector. The company had stated that it planned to raise Rs3.3 billion through an IPO on the PSX by the end of June.

PABC IPO general subscription to start from June 29

PABC IPO general subscription to start from June 29
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