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No reason to jump for joy - Newspaper


The Pakistani stocks yielded a mouth-watering return of 38 per cent in the financial year ended June 30, 2021. That was the highest return provided to the investors after 14 years 2013-14 had given a return of 41pc. But it has to be reckoned that over the past five years, the average yearly return dropped to 7pc as in the last three of the five years, the market performed extremely poorly: 2017-18 gave out a negative return of 10pc; 2018-19 a negative return of 19pc and 2019-20 yielded a nominal positive return of 1.53pc. With such a poor base, the 38pc return in 2020-21 is neither strange nor something to jump with joy. ....

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PSX marks SGFL listing


PSX marks SGFL listing
April 29, 2021
KARACHI: Pakistan Stock Exchange (PSX) on Wednesday held a gong ceremony to mark the listing of Service Global Footwear Limited (SGFL), a statement said.
The recently concluded Initial Public Offering (IPO) of Service Global Footwear Limited resulted in the sixth listing on the equity board of the Stock Exchange for the fiscal year 2021. “This is a positive development as additional companies are getting listed intermittently since the beginning of this fiscal year,” the exchange said.
The IPO was a resounding success with the strike price being discovered at PKR 53.20 per share. A large number of investors, totaling 416 in number, including institutions as well as (foreign & local) individuals took part in the successful bidding in the book building phase. ....

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