KARACHI: Ibex Holdings Limited, an indirect subsidiary of the PSX-listed TRG Pakistan Limited has filed a registration statement (prospectus) with the United States Securities and Exchange Commission for an initial Public Offering (IPO) of shares of Ibex Holdings.

TRG Pakistan told the local bourse in a material statement that if the company decides to proceed with the listing, the offering can take place on Nasdaq during the first half of 2018.

“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” TRG stated. Ibex Holdings Limited is a provider of customer lifecycle management solutions. The news sent the TRG stock to hit its upper circuit on the PSX on Monday, with the scrip being the fifth highest among volume leaders. The price of the TRG share rose by Rs1.77 to close at Rs37.35.

Mughal Iron and Steel Mills Limited: The steel producer intends to increase its melting capacity by 396,000MT at a cost of Rs500 million together with installation of CCM and shearing machine in respect of “Hot/ Direct rolling” at cost of Rs470m, the company told the stock exchange in a statutory filing on Monday.

The price of Mughal stock gained Rs1.84 and closed at Rs73.94 on 2.27m shares traded.

Dost Steel Mills Limited: DSL approved issuance of 35m shares at par to Crescent Star Insurance (CSIL), against the advance for issuance of shares already received, by way of “Other than Right” subject to all regulatory approvals, the holding company CSIL said in statement.

The share in Dost Steel sits on the ‘defaulters counter’; its price on Monday fell 0.67 paisa and ended at Rs12.58, with 22.5m shares traded.

Published in Dawn, February 27th, 2018