SECP approves Agro Processors IPO for PSX listing

August 13, 2026 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has approved the Initial Public Offering (IPO) of Agro Processors and Atmospheric Gases Limited (APAG) for listing on the Pakistan Stock Exchange (PSX), with the company planning to raise up to Rs2.6bn.

APAG will offer 58.05m ordinary shares, representing 15% of its post-IPO paid-up capital. The minimum price has been set at Rs32 per share, while the upper price limit is Rs44.80 per share.

At the minimum price, the company is expected to raise approximately Rs1.86 billion, while the upper price could generate up to Rs2.60 billion.

The IPO will be conducted through the book-building mechanism, with 75% of the shares allocated to institutional investors and high-net-worth individuals, while the remaining 25% will be offered to general investors.

Around 75% of the proceeds at the minimum price will be used for capital expenditures, including plant and machinery, warehousing and storage facilities, and green energy infrastructure.

Another 10% will be allocated to working capital requirements, while 14% will be used for marketing and distribution initiatives. Any additional proceeds generated above the minimum strike price will be used to further strengthen working capital.

APAG is engaged in the manufacturing, processing and marketing of edible oils, vanaspati, industrial fats and margarine, as well as spices and sauces. Its core activities include the refining and processing of soybean, canola and other vegetable oils.

Investors have been advised to review the IPO prospectus, particularly the risks outlined in the Risk Factors section, before making an investment decision

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