ISLAMABAD: The first IPO of 2020 has been granted by the Securities and Exchange Commission of Pakistan (SECP) with the approval of application by M/s Organic Meat Company Limited to issue, circulate and publish the Prospectus for Initial Public Offering of company’s shares in stock exchange.

The company would have 60 days to publish details of proposed offering in the prospectus and offers its shares to the public from the date of approval.

Organic Meat Company — a halal meat processor and exporter — intends to raise Rs720 million at floor price of Rs18 per share through the IPO.

In order to promote capital formation through securities market, the SECP has recently revamped its regulatory regime for IPOs.

Published in Dawn, April 23rd, 2020