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.

Published in Dawn, July 7th, 2021