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Business
April 23, 2021
KARACHI: A group of funds managed by Ashmore Investment Management Ltd are planning to sell part of their stake in drink packaging manufacturer Pakistan Aluminium Beverage Cans Ltd (PABC) in an initial public offering (IPO) in June, Bloomberg reported on Thursday.
The UK-based asset manager’s funds were looking to sell a 26 percent stake in the firm through a first-time share sale in Karachi that could raise at least Rs3.3 billion rupees ($22 million), said Azam Sakrani, Chief Executive Officer PABC.
The funds are selling the rest of their 51 percent holdings in the can-maker through a private placement to local investors that includes a current shareholder, according to Syed Saquib Ali, director of investment banking at Arif Habib Ltd, the sole adviser to the IPO.
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(Bloomberg) A group of funds managed by Ashmore Investment Management Ltd. are planning to sell part of their stake in drink packaging manufacturer Pakistan Aluminium Beverage Cans Ltd. in an initial public offering in June.
(Bloomberg) A group of funds managed by Ashmore Investment Management Ltd. are planning to sell part of their stake in drink packaging manufacturer Pakistan Aluminium Beverage Cans Ltd. in an initial public offering in June.
The U.K.-based asset managerâs funds are looking to sell a 26% stake in the firm through a first-time share sale in Karachi that could raise at least 3.3 billion Pakistani rupees ($22 million), PABC Chief Executive Officer Azam Sakrani said.